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Herald 


INTERNATIONAL 



SribuneC 


PUBLISHED WITH THE NEW YORK TIMES AND THE WASHINGTON POST 


** 


Paris, Tuesday, October 25, 1994 


No. 34.728 



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John Lancaster 

Fnr Service 

'D^l^kfASCUS — For President Hafez 
S 3 na, peace ooold be almost as 

Dnp^ 24 years of authoritarian rule, 
the eiiifluiaiic former air force pilot has 
dadv^ much of his l^tunacy — and 
power fincm confrontation with Israel 
In-'.Qie name of Training the ^lan 
Heights and winning justice for Palestin- 
ians, Mr. Assad buQt a 400,000-man army 
and equ^jped it with modem Soviet aims, 
snuffed out reU^rais and political dissent 

■ NEWS ANALYSIS 

at hciiDe and created a personality cult of 
Oiwicilian proportions, complete vnth 
hi^ portraits dnqied ^m most public 
btffldmgs here. 

Id the process, Mr. Assad cemented his 
rqmtation as. one of the Middle East’s 
most enduring and i^uential pt^cal fig- 
ures, no mean adiievement in a country 
that has experienced half a do^ coups 
since winning independence from France 
in 1 946. Ihe last was Mr. Assad’s bloi^ess 
takeover in 1970. 

As President Bill Qinton prqiares to fly 
here this week in a high-profile gesture 
aimed at nudMg S^ria toward a settle- 
ment with its Tong-tune adversary, Israel, 
Mr. Assad, 64, most wrestle with the ques- 
tion (rf whether he can lead his country in 
peace as he has long led it in war. 

The answer is not sumle. For all its 
likely benefits — more Western aid and 
investment and an end to S^a’s pariah 
status — peace also threatens powerful 
vested interests, in particular the militazy. 
whose leadersh^ forms the core of Syria’s 
ruhng elite and IS dominated by its Alawite 
Musmn minority. 

The danger for Mr. Assad is that a peace 
agFcanent could set in motion forces be 
cannot control, jet^unfizing the counttys 
hard-wem stability and dadimg his hopes 
fCH- an orderiy tranatitm of power once he 
stmdown. 

For tiioseand other reasons, said a 
lomat who asked not'to he identified, a 
peace agrednedris ^'incvitabla 
. **] don’t 'get tfae^C^hg.tbat it’s in the 
bag," the- oi^mat said. *Tt could fall 
^•sjpart and become very nasty." 

' Ever ance Mr. Assad’s youthfiiJ as 
an air force ^oer and an activist in ^- 
ia’s sodahsi E^’ath. Party, whidti seinsd 

See SYRIA, Page 8 



D»«dSihicnnui Rsulcn 


Israeli soMiers aligning diairs on Monday for guests at Wednesday's treaty signii^ at the Jordan-Jsrael border. 


Christopher 
Urges End of 
Funds to Iran, 
Hamas’ Ally 

By Paul F. Horvitz 

Intmaaonri Herald Tnbme 
WASHINGTON — In a shaip attack 
on Iran, Secretary of State Warren M. 
Christwher calleo Mtmday for a world- 
wide effon to cut off fuhdmg for Mid^e 
East terrorists and critidzed the interna- 
tional community for lenience towanl 
Tehran’s “outlaw behavior.” 

Mr. Christopher did not present evi- 
dence of a ^>e^c link between Iran and 
the radical Pal^tinian group Hamas, 
which has claimed responsibtiity for a 
wave of killings and bombings aimed at 
Israelis. 

But in calling for doser attention to 
terrorism's financial base, the secretary 
cited U.S. efforts 10 cut off domestic 
sources of money to Hamas and sharply 
criticized the Islmnic regime in Tehran. 

“Iran is the wchM’s most significant 
sponsor of state terrorism and the roost 
ardent exponent of the Middle East peace 
process,*^ Mr. Christopher said in a speech 
at Georgetown University that mtlined 
U.S. poUcy in the Middle East on the eve 
of Piradent Bill Clinton’s departure for 
the region. 

Condemnation of terrorism is not 
enou^ he said, adding: “A real pendty 
must be imposed. We must join together to 
tom off all fordgn sources of funding for 
tenozism, both private sources and public 
sources." 

Mr. Christopher also called for shutting 
down “front organizations*' linked to ter- 
rorist groups, and said new U.S. legislation 
wouldbe sought, where needed, to cut off 
the flow of d^ars from domestic groups. 

Israeli officials have long called for 
stronger measures to destroy the roots of 
terronsm. 

In his speech, Mr. Ouistopher criticized 
unnamed governments for commercial 
dealings with Iran. 

“The intemationa] community, in my 
judmnent. has been far too lenioit of Iranis 
outlaw behavior," he said. 

In the past. U.S. c^fidals have reported- 
ly sou^t to persuade Japan and Eiuopean 
^es, indoding Geiinany,‘to curtail iheiT 
commerdial and finandm arrangements 
with Iraa Last month, Mr. Clinton ex- 
tracted a promise from Moscow to end its 
arms sales to the Tehran govenunent after 
current contracts were met 
In recent days, the dear focus of U.S. 
and Israeli concern has been Hamas, 
whose most militant membns are the tar- 

See MIDEAST, Page 8 


The Reasons Behind the Fall From Grace of East Europe’s Dissidents 


By John Pomfret 

'Wetha^aa Poet Serriee 

PRAGUE — Five years ago the governments of the 
newly liberated countries ^ Eastern En»^ were 
saturated with fonner “dissidents,” the persecuted 
ioits <A Ccanmunisc rule who had emerged from 


opponents os vjcmmiunisc xuie wno emergea itmn m^auy qun roiaoa s mwmgence s 
the tMlidt gf p awm, and enf OTccd wnaQ iai bet the govenun^t ^ppmnted as 
work M wewe ri es and coal to taVe the reins of Warsaw Pact ^y in Vieiina. All the 




{■d ti 


power. 

_ Today, onty a handful remain. 

9 The. sudden nimble off the political stage by the 
Pj>st European rev^otionaries is the most curious 
dement of reg^’s transhum from oommomsm to 
democncy, ^ a freo-maiket society. That it has 
coincided with a r es ur rection of ex-CtnnDnmists from 


both the ^jvemment and the once infamous security 
services makes it all the stnnger. 

The cabinet mmisters in Hungaiy's new govern- 
ment share a total of 224 years of membership in the 
old Communist Party. The last Sdidarity activist 
reoendy quit Poland’s inteUigeoce service; in S^temr 
.ted as its chief a former 
mam hanlfg in the 
C^Bch Rqmblic are headed by former Communists. 
pT- fV>mm»m's tfi dominate Bulgaria, Romania end 
Slovakia. 

On the surface, the political pounding suffered by 
the disrident generatimi seems to ptml to a failure 
the dissidents to comioce th^ dectorates of the 
necessity of mmn and faster refonns, and of the voters 


to grasp the historic opportunity to move Eastern 
Europe ahead. 

StiU, it is ai^uable that even though voters have 
shoved the dissidents to the sidelines, what they stood 
for — free dections, free maikets and the protection 
of personal freedons — has become the TOlitical 
norm, at least in Poland, the Czech Republic and 
HungEtiy. 

In states such as Romaziia and Bulgaria, ^lere there 
were few or no political disadents under Communist 
rule, sudi norms have not taken hdd and democratic 
change has been thwarted by an entren^ed ex-CQm< 
munist buxeauciacy. 

"Most dissidents tend to be a bit impractical,” said 
the C^edi president, Vadav Havd, who led Czecho- 


slovakia to democraty and then presided rductantly 
over its breakup into the Czech Republic and Sova- 
kia. 

But other, deeper reasons for this political eclipse 
are also at worL 

First, dissidents were a minority in the old society, 
and their existence as principled fighters against to- 
talitarianism made manjr people, nho were more in- 
terested in survival than in fn^om, feel guilty about 
the woricaday collaboration demanded by the system. 

"In free dectkms, people naturally identify with 
those whose fates and standpoints were siinilar to their 
own," Mx. Havd said. "Sodety is a bit xesastaxn to 

See EAST, Page 8 




Coming In From the Cold 

Sj^’Gear Firm lAM)ks for New Meniity 




By John Mintz 

WasUi^m Pen Sertke 

If Big Brother ever toc^ control of the 
United States. EpSystems Inc. would sure- 
ly be its.prime contractor, 

• EpSystems designs ^ satellite gear that 

can snap photogrqihs of automobile li- 
cense plates from ^?aoe and capture dec- 
trouic erwnmMnTftiiTinng, from phone calls 
to rodcettdemetiy. 

■ E-Systons softuwe can anafyze those 
sjpy satdfite photos to see whether any- 
tnmg has Aanged since the last shots were 
tal^ 

^ EpSystems hardware can hdp fedoal 
drug enforoeomt track cocaiTie 

planes and ^ drug dealers’ telepbtmes. 

In short, ^Systems’ tedmok^ies, part 








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Antilles 11.20 FF Morocco 12 Dh 

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of the central nervous system for the na- 
tion’s intdiigence community, are regard- 
ed as b rillian t by iatdhgence agencies and 
Wall Street 

But the conroany’s dosets also contain 
some dassified skdetons. Critics say in 
some ways the c<Miq>any is almost indistin- 
guishable from the CIA b^use it operates 
so secretly, lacks accountability and is 
loaded with .retirees horn the CIA and 
othCT intelligent agendes. E-Sj^tems’ 
critics say it has lied in proceedings to 

protect its interests. 

^Systems, wlridi is based in Dallas but 
has a strong presence in Falls Church, 
Vuguiia, is a conqiany with an identity 
cri&. For decades a fixture in dassified 
work, it is accustemed to sdling its wares 
only to the intdligence community and 
doing it secretly. 

But now, with conqietition increasing 
for a Hw>iintng number of dassified con- 
tracts, E-Systons is de^erare to change. 
For the first rime in its history, it wants to 
fffymmimiftBte With otttsideis, loosen its 
miHtaiy-like corporate culture and become 
more entrepmeuriaL 

The firm also is trying to transform its 
secret fetologies into wiin gs it ^ sdl to 
the public. One problem is that most of its 
clawed gear is so capable and expensive 
it must be "dumbed down” to be sold to 
outsiders. 

"We don’t have a due how to market 
commerdally,” said Lowell Lawson, chair^ 
man of E-Systems. 

Some indus^ analysts s^ E-^tems 
must merge with a la^e deite firm to 
esisure its survival, and mere is speculation 
among defense int try analysts that such 
a merger may be in the works. Martin 
Marietta Corp. often has bren mentioned 

Sm spy. Page 16 


Kiosk 


Aristide Chooses 
Prime Minister 

PORT-AU-PRINCE, Haiti — Presi- 
dent Jean-Bertrand Aristide selected 
Smarck hfidiel, a Haitian businessman 
and ex-commmee secretary, to be his 
prime minister, parliament sources and 
pemle dose to Mr. Michd said Monday. 

"msident Aristide hu written two In- 
ters, one to the piesidait of the Senate, the 
othtf to the president OS the Chambw oS 
Deputies, to announce hU choice,” an 
aide to Mr. hffchel said. Mx. Michd is a 
po^cal moderate who served in Mr. Ar- 
istide’s first calnnet Domination must 
be ^ipFOved by both chambers of the 
Parliament. (Pa^ 7) 



Pnrr MHItrr'IlcDieni 


Book Review 


Page 8 . 


ON LINE ^ Frankfmf s S1.1 UlBon Tenmnal 2, a hai^ar-in^Hred 
sculpture of glass, steel and marUe, wUdi (Opened on Monray, Pa^ 2. 


Bomb Blast 
In Sri Lanka 
Puts Nation 
In Disarray 

Peace Talks Are Halted 
With TamUs After 52 
Die at Political Rally 

By MoUy Moore 

n'in 4 r/i;C;(>n Ptyt Senice 

NEW DELHI — The assassination of 
Sri Lanka's leading opposition presiden- 
tial candidate, apparently by a suicide 
bomber, has ihrotvn the beleaguered na- 
tion into pt^tical disarray and jeopardized • 
a fledging peace process aimed at settling 
the country’s 1 1 -year-old civil war uith 
Tamil separatists. 

T^ bomb blast killed Gamini Dissan- 
ayake and 31 others, including several key 
leaders of the opp^ition United National 
Party, just after midnight Sunday during a 
packed campaign rally on the outskirts of 
Colombo. An estimaied 70 persons were 
injured. Coming only 17 days before the 
presidential balloting, it followed a paiiem 
of violent elections in the small island 
nation. 

The bombing, which occurred moments 
after Mr. Dis^ayaJm, 52, had ended a 
speech, was believM to have been detonai- 
M by a woman who tied a bomb to her 
body and was seated in one of the front 
rows at the rally. 

United National Party officials and 
many others in the country were quick to ” 
blame the Liberation Tigers of Tamil £«- 
lam, the minority group that is fighting a ** 
dvil war for a separate state in northern Sri 
Lanka and has carried out numerous as- 
sassinations in the past using their trade- 
mark suidde bomb^. Its members wear 
cyanide capsules around their necks, pro- 
fessing tbty would rather commit suinde 
than be captured. 

[But on Monday the Liberation Tigers 
denied responsibility, Reuters rep 4 ^ed , 
from Colombo. "The Tiger leadership in ' 
Jaffna have informed their fighters that 
they were not involved in the ku^g," the)* • 
were quoted as saying by telephone from ' 
the Palaly military base in the northern 
Jaffna Per^ula.] ». .» * jiST. 

OthyBsi .dnkaals rajised questkiDs abotTCr ■* 
posable Liberation Tigcr^ moti^ at A 
time when the two sides were in the midst 
of their first serious peace talks in years. 

The government was scheduled to begin its 
second round of peace talks with Tamil 
leaders Monday in the besieged northern 
dty of Jaffna. The govenunent has sus- 
pe^ed the talks mddTmitely. 

"It is a deep blow to the democratic 
process,” said Nedan Tliucbelvam. a con- 
stitutional lawyer who beads a private Co- 
lombo think tmik. International Center for 
Ethnic Studies. "It reduces the posnbility 
of a real political consensus. Tm lines of 
confrontation will become more sharply 
drawn." 

Just 17 months ago, the country’s presi- 
dent, Ranasiog^ Piemadasa, was assassi- 
nated by a suicide bomber who strapped a 
bmnb to his body and rammed his bi^le 
into the presidential party during a May 
D^ parade. Officials secured the Tigers of 
the assassination, ^though the group’s 
leaders have deiiied leqionsibility. The 
week before Mr. Fremadasa’s death, a lone 
gunman assassinated his chief political ri- 
val 

Prime Minister Chandrika Kumara- 
tunga, whose Beetle’s Alliance Party re- 
cently defeated the United National Party 
in parliamentary elections after United 
National’s 17 years in pow«, and who is 
cemsidered the leading presidential candi- 
date, condemned her opponent’s assassi- 
nation as a "barbaric aet^ 

Government officials were debating on 
Monday whether to go ahead with the 
Nov. 9 elections, altli^gh the country’s 
constitution makes no provisions for ew- 
celing elections in such circumstances and 
requires the United National Party to se- 
lect a new presideatial candidate^ 

A few minutes past midnight Sunday 
night, Mr. Dissanayake conclude his 
q>eech with an apology to the crowd: "I 
wanted to say good night, but now it is 
good morning." 

He turned to shake hands with other 
party officiate on the platform as the 
crowd in the front rows suired forward 
and as partidpants at the rearlit firecrack- 
ers, B tradititmal pan of Sri Lankan politi- 
cal rallies. 

"Thore was a big flash and a huge explo- 
sion,” a witness, whose clothuig was 
aained vdth blood, told a United News of 
India reporter at the scene, "When 1 
looked up, there was no one on the stage.” 


New Heart Supports a Fugitive's Long-Distance Run 


By Robert D. McFadden 

New York TVffiit Sf-ncr 

NEW YORK — In 1993, Bartolome Moya, a purport- 
ed leader of a brutal dn^ ring, was arrested and chafed 
with murders and kidnappings. But doctors said he had a 
tenninal bean disc^ and a federal judge dropped the 
charges and sent him home to die. 

Then Nfr. Mctya got a taxpayer-financed $400,000 
bean transplant at Temple University in Philadelphia. 

U^ hearing about that, prosecutors indict^ and 
jailed him again. The judge —told that Mr. Moya needed 
daily dru^ to prevent the new bean from being rejected 
and that he could not go far —granted him ho^ arrest 
in Philaddphia, provided he wore an electronic ankle 
bracelet. 

Though it seemed suicidal Mr. Mctya disappeared, 
touclting off a manhunt by authorities who gu^sed be 
was Uvii^ on borrowed time without his medications. 

The bizarre case took anoth» turn over the weekend. 


as federal marshals said the fugitive had been seized in his 
native Dominican Republic — and he appeared to be in 
good health, 

"He must have been following the instructkms of the 
gc^ doctors from Temple University Medical Center," 
said William Demps^, a ^kesman for the U.S. Mar- 
shals Service. 

Mr. Denqisey said Dominican offlcials, with informa- 
tion from Ammican law-enforcement agendes', arrested 
Mr. Moya late last wedt. 

"It would seem that he might have dedded he had only 
a short time to live and went to spend his last days with 
his family,” said George Edelstem, Mr. Mq>'a*s court- 
appointed lawyer. 

[A U.$. coun magistrate, Aida Ddgado, (»dered Mr. 
Moya’s extradition Monday to New York Qty, The 
Assodated Press r^orted San Juan, Puerto Rico. 
Nfr, Mora had extradition and was tum^ over 


Saturday to U.S. marshals, who took him to Puerto Rico 
for the bearing.] 

The strange case began in August 1993, when Mr. 
Mttya and other purported leaders of a dnig ring were 
indicted ^ afedoal grand juxy in Manhattan on rimigr? 
oS committii^ a dozen muzdm and numerous Iddnap- 
pmgs, bombings and other violent crimes betw^ Jtilv 
19S8 and July 1991. 

Three other defendants were eventually convicted and 
saitenced to life in prison vrithoni parde. But Mr. Moya, 
after an examination by courtrappointed doctors, was 
found to be suffering from terminal heart disease and was 

not expected to live more than a few months. 

Thomas Gnesa, the chief judge of federal court in 
Manhattan, who heard the case, dismissed the phnrpf;^ 
and ruled that Mr. Moya could spend his last days v3£ 

See HEART, Page 8 


trie • 


. . 








m 


U,S. in Bosnia Feels 


Ambushed by UN 


Friction on Policy Escalates 


IVaihagtcn Pott Service 
SARAJEVO, Bosnia’Herze- 


gorina •"When a high-ranking 
U.S. official attemoted to leave 


U.S. official attempted to leave 
Sarajevo for a mp to central 
Bosnia last week, he was met 
with a rude and risky surprise. 

United Nations of^cers 
failed to comply with a U.S. 
request for armored transport. 
Western officials said, so the 
offidal was forced to so^ out 
of this berieg^ capital and lat- 
er back into it thrwgh a fetid 
tunnel under Sarajevo's airport 

The jiotentially dangerous 
round trip of Gregory Trever- 
ton, deputy chairman for esti- 
mates of the National Intelli- 
gence CoundL, is the latest in a 
series of snubs by tbe UN mis- 
aon of U.S. officials in Sar^e- 
vo, the sources said. 

These encounters run the 
gamut from tbe petty to the 
antflgftniTing . Tliey ittclude a 
dispute over vdiether the color 
of an American car cc^d be 
blue instead of UN white and 
pressure to stc^ State Depart- 
ment oftidals from using a fax 
marhitift in a UN compound. 
The snubs, though, have a com- 
mon source in a serious dis- 
agreement: how to handle the 
Serbs. 

Tbe UN mission has shied 
from forceful action to push 
open roads blocked by the 
Serbs or to stop ^ethnic deans- 


mg. 

But many U.S. offidals have 
called for a more robust UN 


MiSENTINA: 

ACC^ETrnVE 

MARKETPLACE 


A GoArence/Debate 
'Organized By Club 


And International 

Tribune. 


vast ejqjerience, 

J .,5l3ub Europe Argentina is takiog an 

potential 

.IjEino^^an.Mv^tors establish 
:r in Argentina. 

■ the help of a strong 
is poised to 

".'cioiiipfe other regions for 
/■^ihye^ih'^t^d development. This 
^^confeitoCe explore investment 
. possibilities, for European business 
■'■■^deciskm-mal^s interested in 
^■&q)aad^Ilg■■i^Lat^ America. 

.Addressing the conference will be: 

Domingo Cavailo, 

Minister of Economy 

Guido di Telia, 

■ Minister of Foreign Relations 

Enrique IgLesias, 

President, IDB 


Conference Date: 
Hiursday, November 3, 1994 
Hotel George V 
75008 Paris 
3:00 pm - 6:00 pm 


For additional infoimation, 
please contact Mi. Thierry Courtaigne 
at dub Europe Argentina 
31, Avenue Pierre lei de Serbia 
75784 Paris Cedex 16 
Tel:40694432 
Fax: 40 70 96 47 B 


ribune. 


Promote 

Foreign 

Affairs 



INTERNATIONAL HERALD TRIBtTNE, TtTSD.AY, OCTOBER 25, 1994 




Oil Tanker 


WORLD BRIEFS 


Is Held for Rockets Hh Kabul cm Eve of 


role in Bosnia and tougher ac- 
tion against the Serbs. 

One source of disa^eement 






Violating 
Iraq Ban 


is the complexiw of the 60-odd 
UN Security <^undl resolu- 


UN Security <^undl resolu- 
tions on Ball^ conflicts, which 
can be interpreted in various 
ways. 

This has created tension, es- 
pedally mth the British Army’s 
Lieutenant General Michael 
Rose, the commander of UN 
troops in Bosnia. General Rose 
said the treatment of Mr. Tre- 
verton was a mi stake. 

While many U.S. oftidals in- 
sist that the Bosnian Serbs 
should be fmgeicd as tbe p^ 


. ■■ ■■ ■■ ' if #1 




' 'i 


• ? • .'V 


mainl y responsible for Bosnia's 
bloodshed and ethnic deansing, 


the UN leadership here aigues 
that it must treat all sides — 
Croats, Muslims and Serbs — 
equ^y. It was partly because 
Mr. Treverton only met with 
the mostly Muslim government 
in Sar^evo and not rebel Serbs 
that he was forced to ride a rail 
cart throu^ the tunnel. West- 
ern ofndals said. 

These oEGdals say the UN 
policy is limiting the posribOi- 
lies for an end of Boaiia’s war 
as as slomng tbe recon- 
struction of Sanyevo. 

General Rose counters that 
the UN missioD here is domg 
the bek it can. He points to the 
feeding of an estimated 2.7 mil- 
lion people and the protectioa 
of more than 60,000 Muslims 
in eastm Bosnia. 

— JOHNPOMFRET 


?r' 

.'JjSbSi 




Retuen 

KUWAIT — An ofl l^er 
captain whose vessel was in^- 
cepted in the Gulf on suspicion 
of violating United Nations 
sanctions admitted Monday 
that he had loaded diesel fuel in 
Iraq for export in violation of 
the embai^. 

Izzat Abdulhadi Khalifa, 
master of the A1 Mahrousa, said 
he had loaded 3,162 tons of di^ 
sel oil in the Iraqi port of Zu- 
bayr and then sailed south, 
away from Iraq, into interna- 
tional waters. 

Asked if he knew that he had 
broken tbe emba^, Mr. but, 
an Egyptian, repli^ in English: 
“I knew all that, but what could 


KABUL (Raiters>-~Rockets Ut Kabul, the Afghan caption , 
Monday, kBii"g at least 35 people and wot mdmg 9 8, hospital 
sources said, on the eve of planned talks betwen a . United 
Nations peace envoy and a factional leader. i 

Piesident Burtianuddin Rabbani's administration biamod the 
barrage from tbe south and southwest of tbe dty on his oppo- 
nents, led Prime Mmister Gulbuddia'Hekmasyar and a north- - 
em warlord. General Abdul Rashid Dustam. 

Mr. Hekmatyar is to hold taRe* with the UN envoy, Mahmoud 
Mestiii, on Tuesday. Mr. Mestiri, a fonner Tums^ fqce^ ; 
minister, was to meet the prime minister somewhere between 
Kabul and the eastdn town of Jalalabad, a UN official said. 


Balladur and Chirac Open Asaaidte 


I do at that time? AU tiie people 
knew.** he said, nwaning that 






, S>~- . ••• 







Midisd Spir4lec'fteBtcr« 


PROTEST AT FRENCH SCHOOL — A Muslim girl in Liile. France, holSiig a 
dedaralitm of rights as ^ and oAers protested a ban oo bead scanes in class. Ab^ 
20 pii^ls d^ed die ban. As bearings started on Monday night nine were expdled. 


British Square Off Against U.S. 


PoU^Diff&'ences on Bosnia and Beyhst Heat Tempers 


By John Damton 

ffetv York Times Service 

LONDON — During a radio 
interview the other day, Ken- 
n^ Gaike^ ch^cellor of the 
Exchequer, was asked about the 
new (position leader, Tony 
Blair. He rq)Ued by gfliBng him 
**Clmionesque,” then went on 
to define the term. 

‘Tou know — here we are. 
aren’t we fun, we’re new. beau- 
tiful people, we’re not sa>ing 
very much, let’s just have a 
ch^ge,” he said. 

Tbe fact that the second- 
hipest official in the British 
governmoit had gone out of his 
way to take a swipe at President 
Bill Clinton — and didn’t create 
much of a fuss in doing so — 
was one more indication of how 
low relations between the coun- 
tries have sunk. 

Not since the Suez crisis in 
1956 have tbe two countries 
been at sndi odds for an ex- 
tended period, diplomats on 
both sides ct the ocean say. 

TWO main issues are causing 
the lift: Bosnia and Northern 
Ireland. 

The Clinton administratitm 
faces pressure from Congress to 
exempt Bosnia’s Muslim-led 
govenunent from an arms em- 
bargo that applies to all tbe 
combatants mere. Britain ar- 
gues that this would worsen the 
conflict and subject the 3,300 
British peaceke^iog troops 
there to retaliation from the 
Bosnian Serl^ 

In seeking tougher action 
against the S^bs, Washix^ton 
his suggested that Liwtenant 
General Sir Michad Rose, tbe 


Briton who commands UN 
forces in Bosnia, has been too 
timi d about preventing Serbian 
tanks and forces from attacking 
peacekeepers and strangling tbe 
Bo^an capital Sarajevo. 

If the United States succeeds 
in gaining the lifting of tbe em- 
ba^o, Britain has warned that 
it would have no option except 
to pull out its troops. 

The Clinton administration 
is following through on a com- 
miuneni to Congress to seek a 
multilateral lifting of tbe em- 
bargo from the United Nations 
bMause the Bosnian Serbs did 
not accept the pea/K proposal 
by an OcL IS deadline. 

An open rift was avoided 
three weeks ago when the Bos- 
nian government, under pres- 
sure from Britain and France, 
formally notified the Umted 
Nations that it would not otgect 
to leaving the embargo in place 
for six more months. 

But tbe move does not fore- 
stall a collision between tbe 
United States and its European 
^es over tbe embargo ques- 

ticxL 

Privately, Clinton officials 
have been telling the British 
that the pressure for lifting the 
embargo is coming from Con- 
gress. and that if tbe Security 


On Northern Ireland, serious 
differences between the United 
Slates and Britain emerged in 
February when the Clinton ad- 
ministration granted a visa to 
Geny Adams, president of Sinn 
Fein. 


knew,** he said, meaning that 
the crew was aware of the <^>er- 
ation. 

But he insisted tiiat when he 
left Dubai on Ocl 11 at the 
h ^nnins oi the vpyage he did 
not know that he would be or- 
dered to go to Iraq. He said he 
was told ^ his charterer that he 
would be heading to tbe Iranian 
port of Abadan. 

But when be anchored in in- 
ternational waters in the north- 
ern Gulf on OcL 14, he received 
new instructions from an Iraqi 
agent of his charterer. 

He said the agent arrived at 
his vessel in a to deliver the 
orders. 

Some crew members said the 
spot they anchored in the Gulf 
indicated a prior intention to go 
to Iraq. 

A U.S. warship, part of a 
four-year-old ship monitoring 
operation, stopped the Hondu- 
ran-flagged ti^er in interna- 
tional waters in the northern 
Gulf on Saturday. 


first direct attack oa bis conservative presidentuu rival, Jacmies 
Qtirac, on Monday as both OMn took off the gloves in their* 
undeclar^ bids to succeed Franqois Mitttfnind xiex^ev . - 
In an interview with the conservative d^ Le fnga^^'Mr. ■ 
criticized Mr. Qtirac, the mayor Paris, for foil^ to ; 
speak out m defense of the franc when It wasundtfauacLxQ the i 
currency markets last year. Earlier, Mr. Ctitiac had questia^ a ■ 
key tenet of French po^ ^ saying the Maasbid^ treaty p^for ! 
Ein<q>ean nKmetaiy union was ’’mappBcaUa.'* ■ 

**1 think he shared zay determzaatioa to stand firna** ‘ 
franc, Mr. Balladur said. ’*But heicoiirihsd aleot tO'ave^dSs*' • 
pleas^ anyone in the RPR." Mr. Ouracslesder Qf;theRl^for ‘ 
tte Rmubhc par^. "For a long time^ Jacques has bra 1 

inside hispar^ 1^ a dtadd. Is that reaDy the spirit of > 

R^blic?^ ; . : I 


Kohl Works to Oi^aniase Guditioh 


BONN (AP) — Chaoodlor Hdmut KctiiL his narrow zariori^ ; 
in Parliament faring a legal <^Wanftngp, b^gan n^caia tion s Mon- • 
day witii ctkiition partners over the guidetines for four bkw» yeais ^ 


m power. 

Mr. Kohl's Christian Democrats and his allies, the Qiretian 


Sorial Union and tbe Free Democrats, together control 341 seats ! 
in the 672-seat Pariiament, four more than the absolute mqoriiy. • 
•DivisionsintheFieeDenuxxaticl^rQrhayecreateddoubtsabtHit ' 
whether Mr. Kohl willget the337 votes heneedstovrinr&riection i 
on the first vote in Pariiament The vote is en^ected Nok 17.. 

Tf hft fails to get the S37 votes in two votes. Mr. Eriil can be re- ; 
dectedwithasnnplenugority(tithel^lator5.Butthaiwoitidbe • 
a poor start for his new term and could be a haritingqr of his ; 
govenunent's cztilapse: 


TRAVEL UPDATE 


Hot Sale for Ghomiel Train tickets 


After the Irish Republican 
Army declared a cease-fire on 
Aug. 31. it was assumed that 
Mr. Adams would be granted a 
second visa to visit the United 
States. This time around, to try 
to assuage British resentment 
Mr. CUnion wTOte to Prime 
Minister John Mzyor promising 
that Mr. Adams would not be 
received at tbe White House. 


Picasso Paintings 
Worth $44 MiUion 
Stolen in Zurich 


Tke jlssodateti Prea 


.But when Mr. Adams was 
told that he would meet only 
with a desk officer of tbe State 
I^ajnmeni at the Foreign Ser- 
vice Qub, he threatened to can- 
cel bis visit to Washington, 
That led Vice President A1 Gore 
to call Mr. Adams and inform 
him that a longstaiiding ban on 
contacts between Siim Frin and 
U.S. officials was bring hfted. 
On Oct 4, Mr. Adams was re- 
ceived by officials inside the 
State Department 


icil fails to approve the 
measure, the presiomt’s only 
obligation is to return to Con- 
gress for oonsulcation. Congress 
will not be in session until after 
the November riectioos. 

A result may be that a bit of 
breathing ^ace has been won 
in the struggle to find a unified 
approach. 


While Mr. Gore did not meet 
Mr. Adams in person, the vice 
president’s phone call was 
viewed by British officials as a 
violation of the spirit of the as- 
surances th^ had been gjven. 


Tlie coldness in American- 
British rdatioos has thawed 
somevriiat — but only some- 
what — recently because of tbe 
close coordination in assem- 
bling a military response to the 
Iraqi buildup near Kuwait 


ZURICH — Thieves have 
strien seven Picasso paintings 
worth SM million ^m a pri- 
vate an gallery, polme said 
Monday. 

Two of the paintings, ’‘Seated 
Woman,** and "Christ of Montr 
znanre,” were stolen once be^ 
fore, in June 1991, and recov- 
ered eight months later. 
Together they are worth about 
S40 million. 

The break-in at the galleiy, 
owned by Max K. Bolli^ oc- 
curred b^een Saturday after- 
noon and Monday motniog, the 
police said Tbe cmeves entered 
the gallery tfardugh the cellar of 
a neighboring bmlding. 

Pablo Picasso painti^ "Seat- 
ed Woman" on canvas in 1903 
during his so^alled Blue Peri- 
od when blue was the promi- 
nent color in his works. It is 
valued at S2S million. 

"Christ of Montmartre’’ is a 
watercolor from the Rose Frii- 
od, after Picasso moved from 
Barcelona to Paris the fonowiag 
year, it is worth $15 mUlion. 

Mr. BoUag’s father bought 
the paintings from the Spanish 
artist. 

All the paintings stolen 
stemmed from l^casso’s early 
period 


gaieral strike by state enqtir^ees. On Ttiesday, pilots on Italian 
airiines will struce from 11:00 AM. to 2:00 P.ML to protest the 


airiines will strOce frtxn 11:00 AM. to 2:00 P.ML to protest the 
proposed merger of the state airiine Alitalia SpA with its subrid- ' 
iaty ATL Calm crews will strike Wednesday. fSlpomdergf 


Asia’s water paric wfll open in Sins^qiore later this year, 

with rides mnlt around a fanta^ structure recalUng a lost Mayan, 
dty, oCfiriats said Monday. Fant^ island, buili at a cost of 54 
mmon Sngapore dollais CS36 milhon) on 71,000 square meters 
(764,000 square feet) of lazid, will have 13 water odes and 31 ' 
sb'des. fAJrPJ 

Several roods aromd Loiidoii*s Heathrow Airport Femained. 
closed Monday after a tunnel for a new airport rail line collapsed, 
triggering two landriides. But the Heathrow Airport Authority, 
said there was less congestion and disruption thm over tte 
weekend because road diversions around the aiiptMt were easing, 
traffic prohle!^ The collapsed luhoe] is part of the new British y 
Rail esqness link between Heathrow and Paddington Station inv' 
central London. fAP)'. 


As Frankfurt Opens New Air Terminal Renovations Begin 


By Brandon Mitchener 

Immatioeal Hvald Ttibime 

FRANKFURT — No sooner had 
the first travelers passed the gates at 

Frankfurt Airporrs new, 1.6-billioa- 
Deutsche mzuk Terminal 2 Monday 
morning than embarrassed airport 
officials b^n tallring about the next 
stage of construction — to correct its 
mistakes. 

"From the very b^miung, it will 
be rearranged, modified 

and improvi^*' said Wilhelm Bend- 
er, chaiirnan of the airport’s execu- 
tive board, trying to put the best face 
on Frankfiixf s dballenge to London, 
whm Heath^ and Gatwick air- 
ports are near saturation. 

While passengers may wril enjoy 
the beau^ of Frankfurt’s vast, nan- 


gar-inspired sculpture of glass, steel 
and marble, its critics call the $1.1 
billion Terminri 2 a costly, ostenta- 
tious tribute to a plane that might 
never exisL 

Built to accommodate supeijumbo 
jets seating 600 to 800 passengers, 
which are not emected to fly until 
the next century, if ever, the terminal 
has too few gates and too few check- 
in counters for tbe kind of planes 
most commonly used today. 

Work is already under way to add 
at least thrre ^ditional gates and 36 
check-in stations, at a cost of another 
60 milli on DM, to handle the 10 
millio n passen^is a year for whom 
tbe terminal was builL 

Moreover, the airport authority, 
and Luf thansa, the German nation^ 


airline, which refused to move into 
the new tenninal because it is un- 
equipped to handle its small fre- 
quent flights, wfll need to spend an- 
other 600 million DM to renovate the 

old te rminal. 

"If we had it to do all over again, 
we would do it differently," admitted 
Jobazmes Eatiler^ tbe airport opera- 
tor’s chief financial officer. 

Nevertheless, the new terminal is 
regarded as an ii^rovement to Eu- 
rope’s second busiest airport and one 
that sets standards in comfort and 
environmental impact that will be 
the envy of other European aiiports. 

Among creature comforts, only 
100 meters (330 feet) separate cuzh 
from gate and porters offer free assis- 
tance with bulky luggage, while a 


"pt^le mover" inqxxrted from the 
UnitM States shuttles transfer pas- 
sengers between the two tenninals. 

"1 love it," said Elvira Heard, a 
German-American woman who 
clocked her check-in Monday for a 
Delta Airlines flight to Atlmta at 
just 22 minutes. "It’s faster, clesmer 
and more efficzeot," said Mrs. 
Heard, '^o flies from Aabama to 
Frankfurt to visit relatives once every 
two years. 

Delta, which r^ards Frankfurt its 
main European hub, is the new ter- 
minal’s "anchor,” with 28 dalic ated 
check-in counters, three lounges and 
four of tbe right available boarding 
gates. 

Sixteen other foreign airline 
ranging frimi Air France to Qantas, 


as well as one -onaTi Gennan carrier, 
Deutsriie BA, share the r emaining 
gates and 68 cbedc-in counters. 

What passengers will not immedi- 
ately see IS an daborate undoground 
baggage tiansfer system between the 
two terminals and a rooftop rainwa- 
ter cztilection system supplies 
enough water to meet the cenniaal’s 
sanitaiy fariiity needs. Two other air- 
port staples passengers will not se ft, 
mtics no^ are a post office and 
banks, which balked at the tenninal’s 
high rent and percttUage fees. 

Many frequent tiavrieis were al sn 
egqiected to complain ab^ the con- 
tinued need for low'tech bus shuttles 
between the terminal and airplanes, a 
result of a riioTtage of "fingers" along 
the building. 


To call from country to country, or to the U.S., dial the WorldPhone® number of the country you're calling from. 


Antigua 

(Available from public card 
Aigantim* 

AuatdwCCl* 

Bitnmss 

Bahrain 

a^gkimicci* 

C arn iu d** 

BcCvia* 


CanaCaccn 
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CbBaKO 
Colombbica* 
Coata fOea* 
Cypna* 

Caadi RapwbSciCCi 


phonos only.} 02 
O0I-8OO-333-1111 
022-903-012 
1-800-624-1(»0 
800-002 
0800-10012 
1-80SS23-(M84 
0-800<2222 
000-8012 
1-800-SB8-8000 
1400-624-1009 
OOV-03TB 
S80-1S0001 
162 

080-90000 

00-42-000112 


DetmtailiiCCi* 

Dominlaan RapwbCe 

Ecuador^- 

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(Outside of Cairo, dial 02 firat) 
61 Salvador* 

FMandfCO* 

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(Limited availabllitv in oostom 
GreecaiCC)* 

Granadan 

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Honduras+ 

Hu»9amCO« 


8007-0022 

1-800-781-6624 

170 


' 355-5770 

195 

9800-102-80 

19T.OO-19 

00-1-99 

0130-0012 

Germany.) 

(UhBOO-7?7l 

1-800-624-8721 

189 

0O1-S0O-U4-1334 

001-800-674-1000 

OOv-flDO-01411 


toetand* 999-002 

(Special Phonee Onlyi 
MandiCCi 1-80()^1001 

hraaliCC} 177-150-2727 

ttahriCCl* 172-1022 

Jamaica 800-674-7000 

Kenya 

(Available From mo«t major cities.) 08001 1 

600-MCII800-624) 


L^anoiitcC) 

(Outside of Beirut dial 0l first) 

UeeMerateimccie 

Lmceinbourg 

Meidce* 

HAonaesiQCM 

Netherleridsicci* 

Netherlands AmOesiCM 


GOO-624 

4254a6e 

I5S0232 

0800-0112 

95-800-674-7000 

19T-00-19 

06-022-91-22 

001«IO-9SO-1022 




Nieeraguaccq 
(Outside of Managua, 
NorwayiCQ* 

Panama 
Mdiiary Bases 
Parasiiiay+ 

Peni (OiRdde of Ijma. 

PotemSCC) 

Poitugalteo 

Puerto ISgmco 

Qatancci* 

Roinaitii(CO+ 

RuHia(Ca+ 

San Marine(CC7* 
Saudi Arabia 
Slovak RapubBccca 
South AfrteaiCQ 


dial 02 RraL) 166 

800.19912 
108 

2810-108 
008-11-600 
dial 190 first) 001-190 

0v-O1>O4-e00-222 
00-017-1234 
1-B0O-BSB6000 
D80IM12-77 

ot-aoo-ieoo 

8V10-800- 497-7222 
172-1022 
1-800-11 
00-42-000112 
0800-SS60T7 


Spahi(CC) 

SwedemCQ* 

S wteertan dt CO* 

SyitaiCD 

TrbiMad ft Tobago (Se 

TMnye 

Ok nJi ia* 

UniMl Arab Embataa' 

IMlsd KtngdoiiHGC) 

To call the U-S. using 8T 
To eaU the U.S. ueing MERCURY 
To eall anywhere other : 
than tlM U-S. 

Urtiguoy IColiott not available.) 
UA Vb^ IslendMCC) 
VMIcanatyiCQ 
VenosMtPH 


90lh99*OOU 

020-795422 

166-0222 

0800 

(Spoeiai Phones Onlv) 
00400M177 
8V10-013 
800-111 


P 


/ 


lort 


, fro"’ 




ff 


LONDON (Reuters) — A flood of calls to buy tickets on the . 
siate-of-the-ait Einooar Cbannd Tunnri train on Monday - 
jammed p^ne lines and indicated that customeis.were ipioring ; 
the service’s pair of public rd^ions fiascos of last week. 

Tideets went on sale at 7 A.M. on Uie British ride at a central ' 
telaAtone bmidng office at Ariiford in southern Endand, near ! 
the c ^imnel ate, and at the gteaming International Rail Terminal 
at London's Waterioo station two hours later. 

A ^Mkesman said the tdephone system was unable to cope with 
the flood (tf calls and that many customers had been unable to get 
throu^ The high interest was encouraging news for Eurost^s , 
operators after two public rdatiems fias^ last week, when two - , 
trains bi^ down. 

^hntilwestAiriillesll^lllllledaslll■dla$40peIceBCoff tbepiice ; 
of tickets purchased ihrooi^ Friday-for travd in the ccmtinental . 
Unit^ States, Alaska and Canada. The offer was matched on | 
Monday by American Aidizies, United, Continental Tr^ World ! 
Airlines and US/Ur in maikets where thqr ccmipete with North- * 
wesL Tbe fares are good f(»r travel Nov. 14 to Jan. 14 in the United 
States Mid f^naHa Also, TWA said it would cut as much as 30 
percent off ticket i»ices for flints from IS U.S. cities to 10, 
European destinatkms throu^ Ibesday. Tbat offer, gcKxl for 
travd ihroi^ March IS, was matched by United and KOTtiiwesL 

(BleRmberg), 

Olden has lolled four Romamans and the number of o^- 
finned cases in the country is now 78, Romanian health authori- 
ties said on Monday. (Reuters) 

Strikes wfll hamper aSr tnrrd in Italy this week. Air traffic 
controDecs and customs officials struck Mond^ as part of a 


:5'.. •••• 


T/WiY 






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000-412 

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172-1022 

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'{Ai****'^ 




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LI) 




INTERTfATIONAL HERALD TR1BUIVE» TUESDAY, OCTOBER 23, 1994 


Pages 


h «r a';- 
- 

^ •"■' “V 

I,... 


THEAMERICAS/ 


the AMEmcAs/ 

Air Force Plan Upsets Other Services 







ll kiVi T'-'-: ®y Bradley Graham how lo reduce overlapping roles 

ikskiiij Weduasm Peat Sanx aod missions amoog the armod 

m Ml M WASHINGTON — Anny, forces. 

W ikr »*'*'* 3 !..., '^ni, navy and Marme Corps leaders KMpins each of the services 

i«» ‘ 3*® fuming ovw a blunt and from playirig a part in all phases 

^ unusually pubHc campaign by of battle has .b^ a concern 

Jlgvi % c [he airforce's chief of staff to inside and outside the I^taeon 


bow to reduce overlappii^ roles conuoands and other assets and 
and missions among the arm^ activities. 

^ An indepen^t commission, 

Keeping each of the services appointed by Congress, has 
from playing a part in all phases started studying how to stream- 
of battle has .been a concern line the arme^Ofces. 
inside and wtside the Pentagon Pentagon leaders had hoped 

for several decades — altbou^ to Twaintain at least the sem- 
to little avail, as the services blance of gentlemanly debate 
have develop^ redundant at-' and respectful 'coHabc^cion in 
tack aircraft, air defenses, exj^ sorting out their competing 
ditionaiy ground forces, main- functions, 
tenance facilities, space But General MePeak decided 


[he airforces cmef of staff to inside and outside the Pentagon 
4 L. limit the various functions per- for several decades — altbou^ 

M , formed by the other militaiy lo little avail, as the services 

* i M.J - ^ ^ services. have develop^ redundant at- 

? te kji But the imtiative by General tack aircraft, air defenses, expe- 

iUKk«»<f 1* ' ‘"•i. Merrill A. MePcak has helpiKl ditionaiy ground forces, main- 

ttMi/V. ’ ** A • M .-- ‘ ^ frame a major new debate over tenance facilities, space 


•tiki -H-,.; ,:i ■ I'MUnir 


^ 


Away From Politics 


RUU>ttii' 
at% in 

se. 





4 I Mantfa/Tbt AMneaiti Prat 

‘tv I I Readeots of an area Dear Holiday Lakes, Texas, taku^ a break from moppiiig up. 

' . - — — ’ Tbe soidbeastmi section the state was innnit»teA by more ritan 20 indies at labL 

\ 4lllflCU.^i Xrum Tickft * southeast Texas was putting tbe worst of data were available, the index stood at 40.6. 

r«> - M* vk! I -i ^ reoent floodmg behind it as waters receded. In 19^ the figure was 73.8. 

wUi i 'lij-' "1-: ■ r'- m^eprogr^against a n^or , moi« than four years after Congress passed 

oa ^ and the Ho^ Ship Chaimd re- ihe Americans with Disabaities Act the num- 

^ V Vn. f cmeoed to traffi^ The waterway been ber of disabled people entering the work force 

kaT ' VO \rT u f *5® “ a n^by and hag ^ot significant^ increased, say experts in 

5 , \ . ) • '■■i‘33c flooding that has been blamed for at the field Zd advocates for the disabled. The 

least 19 deaths. Rivers were icturning to their number of disabled people who have entered 
at JtH- ji fav.i iu: ::.sr'T.,:',!,'nj:R2iTc banks across most of tbe r^on after south- /oree has hardy change^ even as 

^tuHj ! ii . ■ ^tem Texas was inundatedby more than 20 the number of disabled high school and col- 
•eltifi'lji'iif inches (50 centuncters) of rain, driving about pr p^|iat<K ha< con tTnued tp inerease, they 

lihi( 12,000 pet^le from iheir homes. say. 

’•? • After fliree conseaitire years of dedme, the olliePresideofsAdrisoiyCoiiinihtixonHcH 

wwii !■ «v.-k.>:.iy!»?!L;b ttatioo’s soctil health is improving again but mao Hadtalioo Expmmenis said the number 

: it’s still not good, according to an amiud radiation operiments conducted bv ihe 
atmmd a^ nna-ti as 40 pcmiBrfg rcp(M by social scientists a: Fordham Uni- govemment and the miHtaiy from 1944 to 

I veraty in NwYoilL Researchers reduced the 1974 ^ lively to be “in the thousands,” 

I miK! t IVi .'Hr nation's social he^ to a figure ranging from many times more than previously believed. 

AitliiW' I . . Oto lOa As<rf 199?. tbclatestyearforwhich umo^nyt 

9' Macin', i‘::\ ' " ■■ ■ • - ». — 

Politics^lSohpdy^s Safe 

Gynimercial T^visdi^ (ofthe Knife) Enlivens the Old Plots 


• Southeast Texas was putting tbe worst of 
reoent floodu^ behind it as waters reced^ 
clean-up crews made progress gainst a major 
oil ^pQl and the Houston Ship Charmel re- 
opened to traffic. The waterway had been 
shut because of the spin in a nearby river and 
heavy flooding that has been blamed for at 
least 19 dea t hs. Rivers were letuming to their 
banks across most of tbe rraon after south- 
eastern Texas was inundateoby more than 20 
inches (50 centimeters) of tain, driving about 
12,000 pet^le from iheir homes. 

• After tiiree oonsecutire years at dedh^ the 
nation's sochd health is improving again but 
it’s still not good, «twwdiTig to an amiu^ 
report by social sdentists at Fordham Uni- 
versity in New York. Researchers reduced the 
nation’s social health to a figure ranging from 
Oto 100. As 1992, tbe latest year rex' which 


data were available, the index stood at 40.6. 
In 1970, the figure was 73.8. 

• More titan foor years after Cmigreas passed 
tiM Americans mtfc Disabilities Act the num- 
ber of disabled pecple entering the work force 
has not siguifi^t^ increased, say e3q)erts in 
the field and advocates for the disabled. Tbe 
number of disabled pecple who have entered 
the work force has hardly changed, even as 
the number of disabled high school and col- 
lege graduates has continue to increase, they 
say. 

• The Premdenfs Adrisoiy Committee on Hd- 
ittan PtufatfSon Experiiiiaits said the number 
of radiation eeperiments conducted by ihe 
government and the mifitary from 1944 to 
1974 was likely to be “in the thousands,” 
many times more than previously believed. 

naetn.NYT 


to break ranks and commit 
what the other service chiefs re- 
gard as an outrageous violation 
of protocol; criadze as unnec- 
essary some of the roles as- 
signed to other services and the 
new wet^ns systems they have 

plann^ 

His ptMi would eliminate the 
need for long-range army anil- 
leiy and army and-nnswe de- 
fense systems, assigning prima- 
ly responsibility in the areas of 
deep strike and anti-missile de- 
fense 10 the ail force and tbe 
navy. 

General MePeak also would 
reduce the number of Marine 
Corps F/A-I8 jet fighters, 
which he contends dupUcaie 
numerous other U3. tactical 
aircraft; dre^ the Oper- 

atitms ^mmand, which he re- 
gards as an extraneous “fifth 
service** that complicates com- 
bat command arrangements, 
and give primary responsibility 
for the muitaiy's space pre^ram 
to the air force, whidi has mudi 
<k the business now anyway. 

To show that his service is 
willing to give up some things. 
Gene^ MePeak has offered to 
cede to army attack helicopters 
and Marine Corps Harrier jets 
the now assigned to air 
force A-lOs and F-16s ot pro- 
viding close-air support lo 
ground f(xt:es. 

But arnv officers scoff at tbe 
gesture, givai the other func- 
tions General MePeak has sug- 
gested be controlled by the air 
force. 

AI^ou^ the point of the dis- 
cussion ^xmt roles and mis- 
sions is to eliminate needless 
redundancies, the other services 
accuse Genei^ MePeak of re- 
fiising to be a team player and 


Clinton Claims Peficil Prop 

CLEVELAND — President Bill Qin- 
ton, seeking to capture more credit for 
the economy's improvement, has an- 
nounced that the federal budget delidt 
shrank in the last fiscal year more 
than S87 billion and predicted it would 
fall further in 1995. 

“We're doing a good job right now in 
brineing the deficit down.” the president 
said In a Cleveland radio interview dur- 
ing a campaign swing. 

In Washington. Treasury Secretary 
Lloyd Bemsen said that the 1994 deficit, 
S87 billion lower than the record S290.4 
billion in 1992. lepresented the “target 
two-year drop in the deficit in U.S. his- 
tory." The S2O3 billion deficit was the 
lowest since the S1S2.S billion in 1989. 

The Clinton administration is fore- 
casting that the deficit in the current 
flsia] year, which began Oct. 1, will de- 
cline to S167 billion. 

“We've done it by cutting the size of 
government, by eliminating goverament 
programs, by cutting oihen while still 
being able to increase our investment in 
education and training and new technol- 
0^’,” Mr. Clinton said. “And that's 
what 1 want to keep doing — managing 
this thing in a very disciplined way." 

<AP} 

Senators Clear Kennedy 

WASHINGTON — The Senate eth- 
ics committee has found “no basis” for 
allecations of sexual harassment and 


drug use by Senator Edward M. Kenne- 
dy, dismissing accusations in u book b>' 
the senator's onetime top administnitit c 
assistant. 

The committee, which never an- 
nounced it had begun a low-level inqui- 
ry, wrote a statement Oct. 1 .3 that it had 
ended the effort, but did not distribute 
the announcement to the media. The 
statement was made public on request. 

The allegations against the Massachu- 
setts Democrat were made by Richard 
Burke, a former Kennedy staffer, in a 
1993 book about the senator. 

“The committee interviewed Mr. 
Burke and others and found no basis for 
Mr. Burke's allegations,'' the committee 
said. ‘‘On that basis. Ihe committee in 
June 1994 unanimously voted to take no 
further action." {APi 

Repuhlicaits* Rntt-Tax Stor 

NEW YORK — When the Republi- 
can Party wanted to upstage a Demo- 
cratic b^h starring Pi^dent Clinton 
the other ztight, they booked a rival ex- 
tmvaganza with their hottest new star — 
the fledgling governor of New Jersey, 
Christine Todd Whitman. 

“Around the comer," hooted Senator 
Alfonse M. D'Amato of New York. 
“Mario Cuomo is having a gathering of 
his supporters, and their ke>'note speak- 
er is Ointon!" The overflow crowd 
exploded in boos and derisive laughter, 
as if trashing the villain in a silent movie, 

“I'm proud to tell you that our key- 
note sp^er is Christie Todd Whit- 


man!" Mr. D'.^msiio exulted, drawing 
out the name for dramatic effecT. The 
crowd went wild. “No clearer contHLst" 
exists, he said, than the one between the 
two speakers. 

Republican candidates frem Califor- 
nia to Maine arc clamoring for Ms. 
Whitman, 47, who took office in Janu- 
ary. The>' say she is proof that their 
message of lower taxes and less govern- 
ment sells, and is for real. 

In the final weeks of her 199.* cam- 
paign. Ms. >\’hiiniai) promised to cut 
taxes .^0 percent in three years, and rose 
from a 20-poini underdog to victor 
against Governor Jim Florio. Against 
Democratic warnings that the state 
would go bust, she has pushed half the 
cuts through the legislature to become 
the most popular first-year governor in 
mi>dern New Jersey hisiorx’. ^ li’P] 


Quote/Unquote 

Governor Pete Wilson of California, 
on the opposition of two leading Repub- 
lican conservatives. Jack F. Kemp and 
William J. BenneiU to Proposition 187, a 
halloi initiative that would require the 
state's .schools, hospitals and other insti- 
tutions to deny services to inegtii immi- 
grants: “Those are two guys who have 
been in Wa.shington too long. Nice guys, 
but when you spend loo much lime in an 
ivory tower, you lose lotwh with reality. 
They ought to come out to California 
and look at the real world." 


Clinton on the Defense Over Budget Memo 


By Michael Wines 

Hem Mork Tima Seracr 


John C. Danforth. Republican 
of Mi^uri, and about the Re- 
publicans* "Contract With 
America,” a political tract that 


redundancies, the other services WASHINGTON — Presi- 

accuse Gene^ MePeak of re- dent BUI Clinton is struggling to Amenca, a poutiem tract that 
fiising to be a team player and distance himself from a memo- P.®*^ 

thmlfing only of what the air randu]n,senttc»bim^hisowD balancing the federal 

force has to gain by limiting budget director and leaked to .... 

a*at the other services do. the press, in which a bevy of . 1^ campmgn trafl^Mon- 


balanccd budget while cutting jy does with this administra- 
the taxes few the wealthy while fion,” said William Kiisiol, a 
increasing defense — and they senior adviser to former Vice 
won't sa^Jtow it’s going to be President Dan Quaylc and the 
paid for. This memo was simply head of the Project for the Re- 
designed to show us the kind of publican Future, a research 


problems we were going to con- group. 


what the other services do. 

“It's ironic that at a time in 
which the Pentagon’s emphasis 


new Ws and cuts in Medicare **®y “ Cl^and, Mr. Ointon 
and Social Security are listed as ““^oned sever^ wntingen- 


[On the eampaign trafl Mon- front over the next few yearsjf The Ocl 3 document, from 


has been on joint rotary <^}er- 'illustrative options” for future might le^ to such 

ations, the air force’s answer is economic policy. 


those sort of things came up.”] Alice M. Rivlin, the budut di- 
The denials did not wash rector, and entitled "Big 
with Republicans. Choices,” bears is marked 

“Hypocrisy is the word that “draft” and Tor handout and 


to try to put up walls between 
itself and the others,” said Ma- 
jor General Thomas WSkerson, 
the Marine Corps* senior plan- 
ner. 

“Warfare is muddy, it ain’t 


The disclosure bareWtwo ["You know, ’ he said, refer- comes to mind, as it occasional- retrieval in meeting” 

weeks before loidterm elevens '“S “ , 


— has stirred glee among Re- 
publicans. who immediatdy as- 


made a trillion doUars’ worth of 
commitments to the American 


“Warfare is muddy, it ain’t plotting to skirt promises to 
neat You have to build a fairly leave Social Security and Medi- 


^ed that Mr. Clinton was promised a 


a^ptable force. What General 
MePeak is proposiiig, however, 


care benefits alone. 

The White House first de- 


ls a very inflexible, dogmatic fended itself with a statement 
arrangement whose primary from the chief of staff. Leon E 


virtue would be to allow the air 
force to do what it does best” 


Panetta, insisling that the mem- 
orandum was but a “catalogue” 


In JY Politics^ Nobody Safe 


Imt Nimuiuwi' ./.m 
ttltv n -v' 

li: 

f Mte •» bah v: 

4M !'•!-»! I* (“ 

I'l '■'•■'"■'1' n'i 

ii il nf \ 

V-'-'- "r' 

twiil »lnt>' 9kC'..:ir'«..)' 


By Robin Totner 

New YierA Timer Servrop 

WASHINGTON — The life of a media con- 
sultant has its gt wiienges Ukc finding the i^t 
hog to serve as a.pork metaphor, or the perwt 
fA^o of your <^)poneDt jqg^ug with President 
BiTl nintnn, or the most slucere testimonials that 
your nt n d^*^***' “shares your values” (be they the 
Tttghest Hoosier standards*^ or “Wisconsin cosa- 
mon sense”)- 

These are rough, aimiy, cynical firng*, the 
pollsters are endlessly^mding, and there is no 
room for subtlety in political advertisemaits. 
Even in tbe best of times, it is not an art form 
known for nuance. 

As one Democratic consultant. Carter Eskew, 
put it, "There’s only three or four plots.” There 
are plots lor incumbents: Congressman X is 
different from the rest, Mr. X can deliver, Mr. X 


inbereally good; many ads this fall portray an 
agrarian, si^ town or nd^borhood ideal 
Looted at another way, tms can also be seen as 


lorce to 00 wnai u ooes dcsl orandimi was out a “catalogue 
Thrown on tite defensive by of proposals from elset^eie, 
General MePeak's aggressive not a policy documenL But in 
stance, the other services have Seattle, the presideat paused 
wdghed in with their own pro- during a weekend of campaign- 
posals, whidi not surprisingly itig to offer his personal expla- 
largely amount to lengthy argu- natioa 
meats for preserving what they T do not support cuts in Sio- 
have been domg — and perhaps dal Security, and 1 believe any 
even adding a few more assign- saving we achieve in the Medi- 
ments. care program should be us^ in 

General MePeak. who during health care.” he said. “That has 


PleasRejected ^^SEAD 
In Simpson Case Announcing our 

ifjcncr Praaee-Prease -m 

LOS ANGELES - The renowiied proQimnme: 

judge m the O.J. Simpson dou- j| O 

ble-murder trial rejected a pros- at *1 ■¥ "I • 1 

ccudon^iiouMond^.tothv Advaiiced Industrial 

miss all {potential jurors 

questioned in depth 10 date, ■* jr f ^ ^ ___ 

and to sequester the rest, be- AlaTKetinff StrateffV 
cause of tbe media storm O O/ 

“^ge*La^ A. ho also 22 January - 3 February 1995 

turned down for tbe second *' *' 


Marketing Strategy 


i.ooKco«iaauuicrmy, uua ii^waisuocaeciiaa Uenerai Mcreak. Who during healib care, he said, ^hat has 
part of the long political traction of pandering iiis four years as air fence chia always been my posiuoa. There 
to the locals. haa bera an outspoken critic of is nothiiig in that memo and 


Tor too long, they’ve been trying to foioe 
Washington’s values on Maine,” James B. Long- 
ley Jr., a Republican running in Maine for an 
opw House seat, says in one ad “1 Uunk we need 
Maine common sense in Washington.” 

EVIL IN WASHINGTON; While ad makers 


highest Hoostersianaaros or wiscansmcmn- Maine common sense m wasomgton. 
pmk irfi ifrh in mxmseosc”). EVIL IN WASHINGTON; While ad makers 

These are rough, angry, cynical times, the root their own candidates in the communi^,' 
f poUsters are endlessly^ding, and there is no they try to tie tto qroonenis to the aliens m 

room for subtlety in political advertisements. Washmglon: national Demoouts and national 
^ Bven in tbe best of times, it is not an an form R^bticans. 

known for nuance. Democrats link Republicans to a recent cere- 

X («*-■. AsoneDemoc™ticconaUiant.Carter&kew. 

^ ^ Sff<£ff4mthera^^:x^S-,Nfr.X Jogsilierby^ubli^l^lto^bliajis 

^ ^ ^ immenK deSau or deep cuo m a 

, • ifs^forachan^. . _ wiety of popular programs; ihe e^ny U 

The latter is parti^aiiy popular m becoming downright sinister-looking in Deino- 

body-is-safe political year, ^lomned the craticcommerciair 

commercid mat opem wi* a shot ^ Itome a idevision commercial for SheDa McGuire, a 
Greene and the sons Pondert^; 19^ Draocrat running in Iowa, for example, warns 
yh ^i\ ®9oanza was the top TV sh^, Lyndon Johntoo opponent “promised his votes in Con- 


ihe status quo, defends his pos- nothing in tbe record which 
tuiing as necessary to stimulate should indicate that I have 
new thinking. changed my position on these 

"My standing among cd- two nmdamental issues.” 
leagues <» this probably is noi The president said tbe memo- 


EVIL IN WASHINGTON; While ad maJ^ very good,*' the general recently randum arose from internal 
root their oro cudidates m the mmmuni^. told defense reporters. “But we talks about the imminent report 


they ^ to tie thdr oimonents to the aliens m 
Washmgton: national Democrats and national 
Rroubticans. 

Democrats 1™!! Rqiublicans to a recent cere- 
mony on the Capitd stqps in which about 300 
Rgnibhcan candidates sigt^ tbe “Contract 
With America,” a set of political promises put 
together by J^ublican leaders like Republicans 
Newt Gin^ch of Georgia and Dick Armey of 
Texas. Democrats assert that the contract will 
mean dther immense deficits or deep cuts is a 
variety erf popular programs; the ceremony is 


,eDts to the aliens in have an e^ipoitunity to change 
oOCTats and national jjjc way we’re doing thing s, and 


entiuemeut spending, beaded 
\iy two senatOTS, Btm Kerr^, 
Democrat of Nebraska, and 


that change is not likely going ]iy two senatevs, 
to be popular ” Democrat of N 


time a defense proposal to delay 
tbe trial for a year and to release 
Mr. Simpson on bail 
A deputy district attorney, 
Marcia Dark, had argued that 
riKmisdng some 80 would-be 
jurors and starting over was the 
only way to ensure a fair trial 
for tbe former football star. Mr. 
Simpson is charged in the June 
12 siabUng dea& of his former 
wife. Nicde Brown Simpson, 
and her ffiend Ronald Gold- 
man. 


Staying with us is like paying 
a visit to an old friend. 


av'J A' 

aatr.fc »'!<• 

Wh9: r 


. • rS- 


•»i»5 pj '*' ...jrjsT 


Not sinprisinglyi it is also a big year for jng like a nrfarioiis banker of cud as R^ublicans 
mbols of congressional arrogance --- ^un- jjgu myst^ous contract 


Thi* rli'nunds nt' industrial markeiins 
liilTi-r .si^niik'jnlly I'runi thosi- of 
coru^uiiKT marketing - requiring diil'ercni 
thinking ami strati-gie.<;. 

ir VMU tvant lu keep up tn date on 
thr lali'hi i'limvpts in industrial ntorketing 
wiihifUi revisiliiig things vtiu alreadv 
know, this programme is ideal. INSb.^D 
raL-uIi\ MtemU-ps haw led the wav in this 
Exccmiic £«/iuuiiim Their approaches are currcmiv used 

hv leadinsi intiTn.itiunaI business sehouls - in particular the 
INDUSTR.AT computer simulation which is a centrepiece 
Ilf this programme. 

Through INDllSTK.M' vnu aeii\elv emplov the most 
recently developed analMica] approaches and market 
research techniques. You \>ork in teams, Facing the .sort of 
deeisiiins tou encounter in vour busine.ss life; vnu bear the 
consequence.^ of those decisions, .^nd vou exchange views 
with others who have .siniil.tr cx|>erlenre. 

This is one of our best .suiiscrilvd programmes; plav'es are 
liiniled. Tv» receive a cni nprehensive brt^hure immediatelv, call 
Chaiil.vl Puget i.tn ( 1 1 72 42 91) or return the coupon. 


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.. • • ;■...*•> ,>£■ 


symbols of congressional arrogance — jun- 
kets,” pay raises, first-class travel, missed_ votes 
and even, in one ad, taking the elevator in the 
Capitol instead of the stairs. 

. And to contrast with thix portrait of tiie bloat- 
ed, nnrayipg career' politidao, candidates are 
vying to show that they — uidike their bloated, 
uncaring opponents — have real feelings and real 
values. . 


sign their loysterious contract 

Rqniblicans, for their pan. have discovered 
the “morph” — the abiU^ in a commerdal to 
dectFonically transfoini Democratic candidates 
into Mr. Omtoiu the R^blican^ symbol of 
Washington and its values. 

Several Democrats are being “morphed” into 
a menacing, unsnnUng Ointon this year: (all 
ones, shon ones, young ones, old ones, even ones 


AH of this pleading and posttioning is jaini^ with mustaches, lite Rqpre^taiive ^b 
into the confines <m the 30-secoiid television Democrat of West Virginia. Back home with tbe 


oommercial, vdiich urill probably never be tnis- 
taken for a sonnet, but x^cb has a few (rtascen- 
dent ihgmes playing out within a discipline 
sliucture. What foDows is a guide to the season’s 
oeuvre for House races. 

IDEALIZED GRASS ROOTS: It is a given in 


Democrat or west virguua. oacK nome wicn tne 
voters, Mr. Wise rigbed during a recent interview 
and said, “Fm working bard to remind them, 
'Hey, this is Bob. 1 pew up here.' ” 

PERKS OF THE EMPIRE: If turning an 
opponent into BiU Ointon. Dick Armey or Newt 
Gingrich fails to worit, a cmisultant can always 


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politics these days that Washington is bad, the simply tie him or her to Cong^ which has ^ 
souitteofflawedvaluesandwtongthinking.'nie given an end-of-th^Roman-Empire atmosphere 

fli p side to this equation' is that local values arc in many of these ads. 


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Page 4- 


TXJESDAY, OCTOBER 25, 1994 

O P I M I O M 



PulilnhMl Viih Tbp Npw ^itrk Timi'* onil Thi* Vashin^rin RrI 


A Frail Nuclear Deal 


It could be the new miUennium before 
. we know the truth. The details of the 
nuclear deal with North Korea, signed OD 
Friday, can now be inspected, and the 
' doubters are starting to line up. The 
^ International Atomic Energy Agen^, 

• whose board meets this Tuesday, fmds 
the agreement ‘'troublesome." Eyebrows 

. have gone up in several European govem- 

• ments. Most South Koreans, in a recent 
poll, did not want a settlement on tb^ 

. lines. The fact is that Presit^i Bill Clin- 
ton has taken a gamble the outcome of 
. which may not be known until 1999 or 
2000 — which is a long time. 

There are three reasons for concern. 
One is that the 8,000 plutonium-ricb fuel 
rods that North Korea impn^rly re- 
. moved from its Yongbyon reactor this 
year will stay inside North Korea, proba- 
bly into the new century. The rods will be 
kept under international inspection, says 
the deal. But if in a year or two North 
. Korea decides Urat the deal no longer 
suits its interests — if its nervous new 
r^me thinks it needs more nuclear clout 
to survive, for instan ce — the inspectors 
can be ordered out (yet againX the pluto- 
nium extracted, and bang go^ the deal 

If everything goes smoothly. North 
Korea will by early in the new century 
have exchange its present bomb-friend- 
ly nuclear .system for a relatively safe 
Ijgbt-water ^tem paid for by other 
countries. Fine, if it h^pens; but wheth- 
er or not it happens is to an uncomfort- 
able extent up to North Korea. Better if it 
had been insisted that those 8,000 rods be 
removed from the country. 

A sharper wony is that North Korea 
. may already be on the way to having a 
Dudear armory. Once before, around 
1989. it improperly remov^ fuel rods 
from its Yongbyon reactor. The world's 
inspectors have found solid evidence to 
think it possesses more bomb-making 
plutonium thM it has admitted. The con- 
clusive evidence lies in two nudear waste 
dumps that the North Koreans have 


steadfastly refused to let the inspectors 
visit These dumps have no apparent val- 
ue to Nordi Korea except to prolong the 
mystery. Yet under Friday's deal they 
may stay shut until around 1999. 

If the CIA knew for sure that North 
Korea did not have the means to turn the 
1989 plutonium into usable nuclear 
weapons 1^ 1999. this might be accept- 
able. But the CIA does not know that 
Hie 1989 plutonium, it is said, would 
anyway ^ enough for only about a cou- 
ple of bombs. That is irrelevanL The 
supposed purpose of the new agreement 
is to mak e North Korea a respectable 
member of the Nuclear Nonproliferation 
Treaty, that is, a country with no nuclear 
weapons. To say that two or three i$ as 
good as zero does not wash. A two-bomb 
North Korea, with its existing missile 
te(^ology, would be a threat to Seoul, 
Hiroshima and Harbin. 

Even now. what has just happened 
could in a wider way undermine the hope 
of nuclear stability. The other reason for 
concern about Friday's agreemeoi is its 
possible effect on next y^i's attempt to 
renew the nonproliferation treaty. The 
countries which wiil next year be asked to 
renounce nuclear arms now know that 
you riaitn to be a dutiful member of 
the treaty and yet (a) get money by 
threatening to break it, while (b) still 
keeping out some of those supposedly 
oblatory international inspectors. WiU 
the world be able to trust a new treaty 
signed in those drcumsuisces? 

It may come right All these concerns 
win v anish if Kim Joog D really intends to 
make North Korea a different place from 
the monstrosity his father created; if he 
starts to open iqi its borders to trade and 
its politics to free speech; and if he r^idly 
maV^ it unmistakably clear that his coun- 
try has no bomb-makiDg program. But it is 
a long string of ifs. This a^eement is a frail 
thread on which to hang the hope of 
avoiding a multi-nuclear world. 

INTERNATIONAL HERALD TRIBUNE 


Iraq Still in the Cold 


The United States and Britain have told 
Saddam Hussein th^ will use force to halt 
any new Iraqi ground binldup in a 150- 
mfle-deep zone adjoining Kuwait Good. 
Internal tensions had kq>t the UN Securi- 
ty County in warning against a rqie- 
dtiofi of its recent war scare, from speo/y- 
ing the zone in wiiidi attadtHcapable units 
would be excluded. Washinacm and Lon- 
don got usefully concrete. No less usefully, 
tb^ made the further concrete pdnl, 
a^unst the same faesitaticm ffom Russia, 
loanee and others, that the Si^urity Coun- 
cD wanung of "serious ccmsequences'* 
means "appn^riate and decisive" fc»oe. 

The United States looks at Iraq and 
sees first a strate^c threat likely to con- 
tinue as long as the dictator Saddam 
Husseu) rules. Russia and France, while 
not blind to the threat, see ffrst a market; 
they are ready to live with tbe dicta- 
tor. In facL the American idew is realistic 
and prudent, and the dominant pattern 
of Saddam Hussein’s policy supports It. 
The man could change 01 Noiih Korea 
could change, you have to say, who 
couldn't?), but he hasn't shown it yet. 

His enduring style is intimidation and 
duplicity. He snov^ the one by his latest 
move on Kuwait He shows tfaie other by 
his attempt to satisfy selected Security 
Coimdl demands, not all of them, so as to 
play to Rusaan and French commercial 
mterests and win escape from sanctions. 

Between Washington and Paris, differ- 


ences are old bat, and the diplomats are 
practiced in soothing them. But the con- 
nection between Washington and the 
new Moscow is still unsettled, and gmilar 
differences rattle the whole rdaiionship. 

In this instance, Americans, although 
aware of the internal nationalistic pres- 
sures in Moscow, were irritated to Tmd 
Russia pushing its own sober tine. Iraq 
then severely embarrassed its Russian 
friends by repudiating the side deal that 
the Rusrians thought they had made — 
an exchange of Iraqi recognition of Ku- 
wait for a start on lifting sanctions. 

That leaves Iraq in the cold, it has 
reinforced its standing as an outlaw 
state. It has wasted much of the credit 
that it reaped l^om meeting the United 
Nations' weapons-monitoring demands, 
and that it could otherwise have applied 
to peeling back sanctions. 

There is a split on whether Iraq, to 
gain sanctions relief, should meet a 
short list (Russi^ France) or a long list 
(America, Britain) of UN resolutions. 
On the ^ort list, the leading item is 
recognition of Kuwait; on the long is an 
end to i^ression of Kurdish and Shiite 
minorities. But this split promises no 
early comfort to Saddam Hussein. Sanc- 
tions, with a humanitarian loophole that 
he has so far cruelly di^ain^ remain 
in place, and should remain in place, 
while Iraq remains a regional menace. 

^ THE WASHIHGTOS POST. 


Leam How to Peacekeep 


The Pentagon is learning from painful 
experience in Somalia and now in Haiti 
that it needs to improve its peacekeeping 
practices. In Somalia, U.S. troops faced 
deadly fire after siding ag^st one of the 
feudinjg warlords. In Haiti, the Pentagon 
is rethinking its reliance on Haitian z^- 
tary and police to keep order. 

^me of the problems are purely tacti- 
cal. like training troops in ^e proper 
techniques for disarmingpotentially hos- 
tile groups in volatile enviromnents. That 
is very different from drilling them for 
ful]-5(^e combat, when the use of deadly 
force is the rule, not the excqiiion. 

The <!eq>er problem is rooted in the 
American strat^ of peacekeqjing. Army 
doctrine conceives of a continuum from 
monitoring a peace settlement already 
agreed to (peaoskeeping) to compelling a 
settlement where there is none (peace 
enforcemeni). The army contends that 
tbe same troops can be trained to do both 
missions, exercising the utmost restraint 
in their use of force at one moment only 
to abandon restraint in the nexL This 
approach is flawed. Instead of a continu- 
um, there is a great divide. 

I^ce enforcement uses fully armed 
combat troops to force warring parties to 


observe a cease-Hre; in the process, they 
often take sides in the conflicL Peacekeep- 
ing, in contrast, reqtdres the troops to 
remain inqiartial and rests on the consent 
of the warring parties and the populace. 

The ann/s doctrine reflects tr^tional 
dislike of occupation and a strong prefer- 
ence for overwnelmmg force deployed ag- 
gressively. U.S. troops ended up in a dead- 
ly Hrefight in Somalia when they tried to 
coerce cooperation by disarmin g one war- 
lord’s militia by force, without exhausting 
pea^ul means tirsL By comfiarison, Aus- 
tralian peacekeqiers (^)^ti^ with more 
restraint and inq>anialily were notably 
more successful in pacifying Baidoa. 

The U.S. Army seems to be learning 
from past mistakes. Americans 

chafe at U.S. troops' restraint in the face 
of thug^h brutality in Haiti, tbe army 
deserves credit for trying to work with 
indigenous Haitian forces, no matter how 
difficult that is proving to be. Until other 
Haitians can be trained to take over, the 
U.S. Army will be forced into assuming 
greater control over disanxiing and polic- 
ing the country. Now it needs to change 
its doctrine and train units for the sole 
purpose of peacekeeping. 

— THE HE tv YORK TIMES. 



International Herald Tribune 

ESTABLISHED 01X7 

KATHARINE GRAHAM. ARTHUR OCHS SULZBERGER 

CtfChatmfn 

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The UlS Effort in Bosnia Was Wrong From die Stm 


Bv AnthoDV Lewis 


ing force, useful when parties to a con- 
nw Am mn/fv to end it is not useful 


N ew YORK —The United Nations 
has had peacekeeping forces in Bos- 
nia for years now. but there is no peace. 
Bosnians are still being picked off by 
Serbian snipers. Tbe Serbs are blocking 
relief convoys to besieged areas. They are 
still carrying out "ethme cleansing." 

What has gone wrong? The aos'^'er is 
that tbe UN operation was misconceived 
from the start. That Is made compellingiy 
clear by Professor Richard Bens of Co- 
lumbia University in the new issue of the 
magazine Foreign Affairs. His artide is 
must reading for everyone concerned 
about the unending tragedy in Bosnia. 

When [he Serbs, led by the Yugoslav 
fedei^ army, began tbdr aggr^on in 
Bosnia, the West dedded to intervene — 
but in a limited and impartial way. In- 
stead of coming forcefully to the help of 
the victim, it c^ed for a UN force that 
would treat victim and aggressor alike 
and try' to protect civilians. 

The strategy simply "abetted slow- 
motion savagery," Mr. Betts writes. The 
UN force protected convoys going to 
besieged towns, in effect brea^ng the 
Serbian sieges. But the United Nations 
maintained an arms embargo that pre- 
vented the Bosnian government from 
defending itself. 

"‘The rationale was that evenhanded- 


ness would encourage a negotiated setde- 
menL" Mr. Betts says. “The result was 
not peace or an end to the killing, but 
years of mi]ii.iTy stalemate, slo^' bleeding 
and delusionary diplomatic haggling" 

In one respect, the United Nations 
operation was worse than useless. The 
British and French soldiers in the force 
were effectively made hostages by the 

CW ofpdab say the Bosman 
Seihs hate blocked tKo-thirds 
of imnter reUef suppUes. 

Bosnian Serbs, who threatened to attack 
them if the outside world used meamng- 
ful force against them. 

So NATO, having threatened to hit tbe 
Serbs from the air if they violated pro- 
tected areas, has carried but only laugh- 
able pinprick raids instead of real attacks 
on m^cr military targets. 

The LfN commander there. Sir Mi- 
chael Rose, h^ become reluctant to ap- 
prove even a pinprick. 

The traditiooaJ small UN peacekeep- 


in a conflict still ra^g. 

Then, Mr. Betts argues, a modest out- 
side force can be effective by helping one 
side enou^ to tilt the balance. Or outsid- 
ers can come in imparuaUy but niassive- 
Iv, taking cootrol of the situation. But 
feeble impartiality leads to ^ief. 

Mr. Betts writes: "Intervention that 
proceeds as if the issues ... can be set- 
tled by action toward tbe belligerents 
that is both eveitiianded and weak in 
capability wUl more likely prevent peace 
than enforce it." 

Mr. Betts, who directs tbe security pol- 
icy program at ColuinlHa's School of In- 
ternational and Public Affairs, advances 
a general theory, using Bosnia as the 
most important of severa exanmles. But 
there is nothing theoretical about the 
situation that confronts Bosnia. 

When tbe U.S. Congress pressed to lift 
the arms embargo on Bosnia, the olgec- 
tion was made that it was the wrong 
moment to do so. The Bosnian Serbs 
would immediately launch nuQor attacks, 
UN forces would have to withdraw, and 
they would not be there to food to 
besi^ed areas during the winter. The 
Bo^an government accepted that argu- 


ment in agreeing to wait until next ^ring 
for a lifting of the embargo. 

But in fact the UN forces are being 
severely hobbled by the Bosnian Serbs 
right now. As winter approacl^, no- . 
wbm near enough food, medicme and 
cold-weather clo&ng is getting through 

to Sarajevo and other places. 

Last week tbe Bosnian Serbs mjacked 

an entire convDV of medical supplies head- 
ed for Sarajevo. They have repeatedly cut 
the one opmtiog r^ road, and forced 
the dosing of Sarajevo's airport. UN rdief 
officials say the Serbs have blocked two- 
thirds of winter relief supplies. 

Lieutenant Ceneral Rose has so far 
responded to this menadng situation tw 
talking with Bosnian Serb teadas, in ef- 
fect bttging them to be nicer. That policy 
faithfi^ reflects the weakest most pa- 
thetic Briti^ govenunent of znodnn 
times. Bnt for how lonscan it be oounie- 
Tiwfie«i by the United states? 

President Bill Clinton is getting de- 
served credit these days for foreign poli- 
cy aduevements: in Haiti, Iraq, Kiwea 
and the Middle £asL But he WiU have to 
strong new action in Bosnia if fur- 
ther banian i^astcr there this winter is 
not to put an ii^Uble stain on his 
consdence, and America’s. 

The Hew Yvk Times. 


The World Still Doesn’t Have an Effective Nonproliferation System 


L ondon — Wheo the Imerna- 
a tional Atomic Energy Agency 
meets in Vienna this Tuesday, it 
will be considering more than just 
last week's accord between North 
Korea and the United Slates. .At 
stake is the future of the IAEA and 
the entire nonproliferation effort. 
And even those who prdse the 
deal for its effect on l^t Asian 
security have cause to worn*. 

It is laudable that the United 
States has an agreement which 
midit, if all goes well in this com- 
plex and diawn-out deal, keep 
North Korea from developing a 
large nuclear weapons capability. 
But predsely because there will 
be hope that the agreement will 
work. North Korea wilf effective- 
ly hold hostage the policies of the 
interested parties. 

North Korea can point to the 
pans of the agreement that ap- 
pear to be merely vague plati- 
tudes about maintaining peace 


By Gerald Segal 


and security when it wishes to 
argue that there should be no 
joint U.S.-South Korean joint 
military exercises. 

North Korea might oppose U.S. 
anns sales to South Korea or even 
further development of Japan's 
civil nuclear power program. Will 
anyone want to up^ North Ko- 
rea with such actions? .And won’t 
neighbors find it easier to accede 
to North Korean demands to 
change their policies? 

North Korea gets used to 
e.\ercismg an effective veto on its 
neighbors' policies, we can be 
sure that the timetable for the 
elimination of its nuclear pro- 
gram V’ill slip. Tbe procrastina- 
tion is likely to be politically driv- 
en. but there will also be' good 
technical reasons. 

Tbe North Korean economy, 
and especially its energy grid, is far 


from ready to accommodate mod- 
em Western-supplied nuclear 
power plants. The power grid wH 
have to be expanded, no doubt 
also with Western rinance and aid. 

As the process drags out, the 
world will continue to provide 
free oil to North Korea. Qearly 
P\'oag>'ang has eveiy incentive to 
take its time before it has to com- 
ply with ibe parts of the accord 
that require it to diaaaantle its 
nuclear program and allow IAEA 
special inspections. 

As if this were not risky enough, 
tbe perils tbe nuclear accord are 
also obvious when considering the 
global struggle against nudear 
proliferation. No(% Korea has 
earned what The Economist ^tly 
calls the ‘'wages deception." 
The lesson is doubtless not lost on 
other potential proliferatois. 

Tlie North Koreans have de- 


monstrated that the United 
States and its allies are prepared 
to provide vast amounts of mon- 
ey to those who threaten to ac- 
quire nudear weapons. It takes 
no ^eat ^nicism to st^gest that 
the likes of Iran or evenUkiaine 
will niake similar demands. 

The faQure of the UB.-North 
Korean accord to undo North 
Korea's apparent past prolifera- 
tion will aJro show to others that 
the best way to get attention is to 
acquire at least a small dandes- 
tine nud^ arsenal. The United 
States has n^tiated no mecha- 
nism for imdCHDg North Korea's 
past proliferation. At best, the 
lA^ be able to report that 
we know that such profifetation 
has taken place, but thm is nothr 
ing that anyone will then be able 
to do about iL The revdatiem that 
there is a secret annex to tbe ac- 
cord on this matter only adds to 
the worry about the de^ 


As the IAEA deddes how to 
reaa to tbe North Korea de^ 
saddest but most realistic condu- 
sionmust be titattfaeiatematioD- 
al communiQ has failed to sup- 
p(Kt an effective nonprolifeiation 
OTStem. From now on. tbe lA^ 
throng no fault its own, will 
primarily be useful as a teclmicd 
agent for ad hoc and often inef- 
fective inroectUms. 

Much lu» the bc»t-Cold War 
hopes that the United Nations 
could be more effective in main- 
taining international security, so 
the ho^ for an active and dfeo- 
tive Ia)^ have died. 

Next stop on tbe disappdnt- 
ment trail ww be tbe review con- 
ference for the Nudear Nonpro- 
lifdntion Treaty in 1995. 

77ie writer, a senior fellow at the 
IntOTiatumal Institute for Strate- 
gy Stiu&es, contributed this com- 
nteni to the Herald Tribune. 


Clinton as Concession Monger: A Syrian Deal After North Korea’s? 


By William Safire 
dismiss as “low-yield." but capa- 


W ASHINOTON — The pro- 
blem with Bill Ginton's trip 
to Syria to seek an agrrement 
about tbe Golan Heights is that 
he has persuaded himself that his 
cave-in last week to North Korea 
was "a very good deal indeed." 

Examine tiiat deal. Mr. Clin- 
ton's opening posilioQ was that 
untrustworthy North Korea must 
not be allowed to become a nucle- 
ar power; be soon trimmed that 
to say that it must not possess 
nuclear bombs, and stoutly threat- 
ened sanctions if North Korea did 
not permit inflections of nuclear 
facilities at Yongbyon, where the 
CIA and KGB agree tiiat nuclear 
devices have been developed 
But as a result of Resident 
Clinton’s Good Deal In- 
deed, IAEA inspectors are denied 
entry to those plants for rive years 
— wheo some excuse wdll be 
found for more secrecy. 

Because Mr. Clinton backed 
down. North Korea's first two 
atomic explosives ^ which ad- 
ministratioo spinmeisters now 


ble of obhlerating everything 
within 3 I.2-knometer radius — 
could menace Seoul and. in a few 
years, be deliverable in Tokya 

That is enough of a tna^e- 
struction threat to preclude a pre- 
emptive strike by the Umted 
Slates if North Korea, in the next 
U.S. president's administration, 
breaks its agreemem to freeze ad- 
ditional bomb-making. 

Well. let 'em have a couple, but 
see how ihty’ve promised to stop 
produdttg more plutonium: "the 
entire world will be safer." Mr. 
Clinton insists. In prqTaynwot 
for that blackmail, the United 
States has agreed to supply the 
North with $100 million worth 
of oil each year and arrange with 
allies to build — free — a S4 
billion light-water reactor that 
apologists claim would make it 
terribly difficult to produce 
weapons-grade plutonium, al- 
though experts disagree. 


But tiiat substitute reactor will 
not be on-line for nine years. And 
the victorious North Korean ne- 
gotiator, Kang Sok Ju, crows that 
"the complete elimination of the 
existing nuclear program will 
only come when we have the 
light-water reactor in our hands." 

MeanwhQe, the North’s "exist- 
ing nuclear program" goes on ■— 
including work in sites forbidden 
to IAEA inspectors. 

These infiectocs are seething 
at the U.S. cave-in and the prece- 
dent set for future blackmail. 

llie proliferation watchdog 
Gary Milhollin s^s: “We're 
about to rescue North Korea 
from its poverty, but they don't 
give up very much." 

James Schlesinger, a former 
chairman of the Atomic Energy 
Commission and later Jimmy 
Carter's energy secretary, has this 
judgment; "While it was not an 
unconditional surrender, it was a 
n^tiated surrender." 


Why pay North Korea Hllions 
while It retains a secret bomb ca- 
pability for at least five years? 
‘'What do you want” replies a 
Clintooite to a burst of candor, "a 
war?" Ihat explains it Just as the 
credible threat of war by the 
United States forced out Haiti's 
junta and forced Saddam Hussein 
away from Kuwait tbe threat of 
war by N<»lh Koi^ forced Bill 
Clinton to fold bis hand. 

But war was a false alternative. 
Anotto choice was sustained 
diplomatic pressure, economic 
sanctions, with benefits to the 
North only after verified perfor- 
mance. 'That Rettanesqw course 
was too hard for Mr. C^ton. 

does Mr. Ointon’s will- 
ingness to pay dictatorships up 
front affect 1^ coming visit to 
Hafez Assad in Syria? 

We can hope that it is not an- 
other advance concessioiL To vis- 
it a nation on America's short list 
of terrorist states is to effectively 
remove it from that list 
A Clinton visit is an honor long 


sought by Mr. Assad, who spent 
17 years undermining the Sadat- 
1^^ initiative, who harbors 
Iran's Hezbollah in conquered 
Lebanon and who made Damas- 
cus tbe world capital of terrorism. 

The reason for such substan- 
tial payment up front cannot be 
only to prop up political popu- 
lanty, recalling Richard Nixon’s 
sad overseas tour after Water- 
gate. No astute deal-maker 
would throw away the valuable 
card of a presidential visit. Mr. 
Clinton should have an ^ually 
dramatic return concession in 
hand that would speed a territo- 
rial conmromise on the Golan. 

But that is where his recent, 
unbounded enthusiasm for the 
disapjMHDting Korean nida- 
tion IS most worrisome. He has 
just proved that be can hypno- 
tize himself into fervently bwev- 
ing that any ded at all, including 
one that puts his successor as 
president m a teiribie box. is "a 
very g6od deal indeed." 

The New York Times. 

4" 


Imagine a Merger Between Japan and the United States: Jamerica 


T okyo — in popular novels 
and movies today, some of 
America's best-scUing authors are 
slashing and bashing Japan. Not 
long ago, Michael Crichton's 
"Rising Sun," starri^ Sean Con- 
nery as the nemesis of sinister 
Japanese businessmen, bit the 
world’s morie screens and video 
stores. Now Tom Clancy's "Debt 
of Honor" conjures up a fictional 
U.S.-JapaDese war. 

But what if we imagine not a 
war between tbe two great eco- 
nomic superpowers but a merg- 
er? What would the two countries 
and the rest of the world look like 
if, in fact, the United States and 
Japan chose to become a single 
superpower? That mvthicai coun- 
uy we call Jamerica.' 

Don't expect this m^er to 
take place. Yet merely by imagin. 
ing it one gains fresh insights into 
an economic and strategic rela- 
tionship that affects virtually ev- 
ery country on earth. 

Over the years, the world has 
watched trade hawks and nation- 
alists in Washington and Tokyo 
lambaste one another. Amenca 
for a time tried to drive down the 
value of the dollar vis-a-vis the 
yen in the futile hc^ of reducing 
its trade defidL Currency protec- 
tionism, some called it. R^ntly, 
America tried to put the brakes 
on the plummeting grrenback. 

But what if now, with the yen 
and dollar approaching equiva- 
lency, the United States and Ja- 
pan were to eliminate their sepa- 
rate currencies? Many Europeans 
favor a single Eurc^>^ currency. 
Why not Japan and America. 

In Jamerica. the yen and the 
dollar would many and ^ve birth 
to a new world currency, the 
yendo. Indeed, the near equiva- 
lency of the dollar and the yen 
could 1^ the basis for precisely 
the kind of financial integration 
that the Europieans have so far 
failed to achieve. 

It would assure a smoother fu- 


By Alvin and Heidi Toffler 

This is the first of two articles. 


sion than occurred in Germany, 
where there was a vast disparity 
between the West and East Ger- 
man currencies. And it would be 
3 far easier financial fit than that 
which faces North and South Ko- 
rea, if and when tbty ever reunify. 

With the creation of the yendo 
and further integrative measures, 
the overexaggerated trade conflict 
would lose much of its wuleoce. 

The trade conflict has nothing 
to do with national interests. It 
has to do with the narrow inter- 
ests of small groups in each coun- 
try, not the larger interest of each. 

Almost every flag-wTapped 
word uttered about trade by pol- 
iticians, bureaucrats and the me- 
dia is hypocriticaL Everyone pro- 
duces arguments in defense of 
self-interest So all the discussion 
(tf the mercbaqdise trade needs to 
be taken not with a grain but with 
a whole box of salt. 

Given our mytitical merger of 
Japan and the United States, the 
trade books would balance differ- 
ently. Deficits might suddenly 
app^ as insignificant as those 
b^een Rhode Island and Texas. 
or Hokkaido and Honshu. 

As the stock markets of both 
countries began to fuse, and 
slocks came under common reg- 
ulation, more American faces 
would begin to appear on the 
boards of Japanese corp>oratioas, 
and vice versa. 

Japianese land and real estate 
prices might fall, and American 
prices rise slightly, as Japanese 
families discovered that they 
could live in New York, Los An- 
geles or Boston for a fraction of 
Tokyo or Osaka price. 

Monet^ union might go band 
in hand with political integration. 

For example, Ross Perot and 
other U.S. politicians have bit- 
terlyattacked the huge sums that 


Japanese ftnns spend on influ- 
ence-peddling in Washington. 
This lobbying irritates Americans 
who see it as underhanded and 
unfair, if not illegitiaiate. Ameri- 
ca, on its side, places excruciating 
pressure on Japan — forcing it, 
for example, to change its entire 
retail system even if that wipes 
out a whole population of sm^ 
famDy-owned businesses. 

The reality is that many deci- 
sions affecting the lives of Japa- 
nese workers, salaried pec^le, of- 
fice ladies, dry cleaners, noodle 
shop owners and ordinoty people 
are acnially made not in Japan 
but in Washington. The deliber- 
ate lowering of the value of the 
dollar is only one example. 

Many decisions made by politi- 
cians and bureaucrats in Tokyo 
affect millions of American work- 
ers in the auto, computer and 
electronics industries, and in 
many other fields as well. 

The U.S. and Japanese econo- 
mies. and even their cultures, are 
so ti^tly intercotmected today 
that It is hard to tell where one 
l^vtt off and tbe other begins. 

Democracy is based on the idea 
that ordinary people can iiifiu- 
ence the decision rnakers who af- 
fect their lives. 

We have often semi-facetiously 
suggested in our articles and lec- 
tures that Japanese voters should 
stand up and demaiid representa- 
tion — tile right to elect members 
to the U.S. Congress. That would 
give the Japanese pe^le an open 
ud legitimate voice in the Wash- 
ington decision-making appara- 
tus. Of course, if the Japanese 
deserve to be seated in the U.S. 
Gmgress, Americans should have 
seats in the Diet 

Thus our fictional country of 
Jamerica would have a new kind 
of cross-representational Parlia- 


ment, perh^ a model for a pan- 
Pacific PariLunent of the future. 

But for Jamerica to worl^ 
changes in sodety, culture and 
the media woudd also be necessary. 

As the United States builds the 
so-called national information in- 
frastructure, it would necessarily 
be int^rated with that of Jwan, 
as suggested Ity Tsuneo Naka- 
hara, vice chairman and dqitity 
CEO oi SnmitMno Electronics 
Industries Ltd. 

Japan’s media would change, 
toa Suddenly, of only 2 

or 3 percent of Japanese homes 
having cable television, the 
chances are that 60 percent of 
Japanese homes would soon have 
lOO charmels or more. 

Home teleshopping would not 
be far behind, driving down the 
costs of everything from advertis- 


ing and distribution to packa^ng 
and ecological clean^, and mak- 
ing obsolete the entire argument 
between Tokyo and Washington 
over the structure of retailing. 

Behavior and social character 
would cha^e, too. 

It is a clichb to say that Japan 
is too group-oriented One of the 
words one hears most in Japan is 
war-ewar-e. It means “our 
team," or ‘Sve.’’ 

By contrast, one of the words 
one hears most in America is 
"1." Americans could use a little 
more "we," but Japan could use 
a little more "L" 


This cormneru, admted front 
"■/bmerzee" (published by Fuse 
Sha in Ttdeyo), is distributed by 
New York Times Special Featur^ 
© 1994 Ah'in and Heidi Toffler. 


IN OUR PAGES: 100, 75 AND 50 YEARS AGO 


1894; Farie Gimedawn 

PARIS — Some sensation was 
caused on the Boulevard des Ita- 
liens yeste^y [OcL 25] by a Tnan 
seated astride one of ^ topmost 
branches of one of the plane trees 
making ugly grimaces at those 
bdow him. At last some members 
of the police force arrived and 
summoned him to come down. 
He responded by "taking a sight 
al them.” Hre brigade men were 
then sent for and with difficulty 
succeeded in dislodging him, 
ever, not \rithout receiving a show^ 
er of pieces of dead wood. 

1919: Graft Is Ebqiosed 

NEW YORK — Revelations of 
graft in the administration of the 
Whibition law tiixou^ which 
Broadway restaurateurs and qui- 
et road houses soap their fingers 
and continue to sdl liquor were 
made here to-day [Oct 25]. The 


exposb involves a prominent New 
York Rqsublican leader in tbe 
District Attorney’s office, two 
prominent attorneys and several 
TOUtiedans and other officials. 
This infonnation as an af- 
termath to the arrest yesterday of 
several United States agents. 

1944: SeaBatdeNears 

PACIFIC FLEET HEAD-t* 
quarters — [From our Ne«^" 

York edition:] Tee loqg awaited 
battle between the American and 
Japanese Fleets appeared immi- 
nent today [Oct. 24] os Aditiiral 
Qiester W. Nimitz announced 
that carrier based aircraft of the 
3rd Fleet have sighted Japanese 
battleships and destroyers mov- 
ing eastward (hroi^ Philij^tine 
waters. MeanwhQe, General 
MacAfthui’s invasioo forces ml 
Leyte have captured at least 
tw^ve towns aim villages n 
expanding twdve-mile-TronL 





INTERNATIONAL HERALD TRIBUNE, TUESDAY, OCTOBER 25, 1994 


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W ASHINGTON — The busi- 
ness community in the United 
States rarely knows when it has a 
good thing going. President John F. • 
Kennedy foun<i that out 32 years 
ago. and fiiU Clinton is learning the 
game lesson today. 

In the early 1960s, the business 
world ims^)prais^ Mr. Kennedy, 
convinced that he was anti-business 
because he reacted bitterly when the 
U.S. Sted diairmao, Roger Blougb, 
in a grave tactical error, broke his 
promise not to raise sled prices, and 
other major companies followed. 

“My father always told me that aU 
budnessmen were sons of itches," 
an h^uiiated Mr. Kennedy told 
aides in the Oval Office. **But 1 nev- 
er b^eved it until now." Aided by 
smahea’ con^anies that did not go 
along, and vnth a powerful di^lay 
of piesidential muscle. Mr. Kenne- 
dy forced Mr. Blough to back down. 

The over stra prices left the 
buriness community with a bitter af- 
tertaste, and none ^ Mr. Kemed/s 
later overtures resused business con- 
ridence in his administration. Nooe- 
thdess, Prerid^t Kennedy was es- 
seotialiy a fiscal conservative who 
institute over labor’s ol^'ections. the 
flrst investment tax credbe. 

He leaned over backward to ac- 
comzDodaie the conservative views 
of business leaders and bankers on 
ti^e. the dollar and the balance of 
payments, at the behest of his 
publican treasury secretary, C. 
Douglas ^llon. Nfr. Kennedy e\'en 
sent a thinly disguiyd proposal for 
compulsory arbitration to the Con- 
gress in 1^3 to head off a steel 
sQ&e, aod he warned tiie AFL^O 
boss, George Meany, not to push 
him for spe^ favors. 

But after the Blough incident, 
business never accepted Mr. Kenne* 
d/s assurance that he could be 
evenbanded (though it later warmed 
to such assurances from Lyndon 
Johnson, who carried out and ex- 
tendi many Kennedy initiatives). 

It would be hard to match 
Clinton's series of overtures to busi- 
ness, starting with 1^ commitment to 
an industrial poli^ to hdj> make 
manufacturers more competitive; a 
dedication to reducing the bud^ 
deficit; and a “partnei^p'* role to 
proxnote exports that has had the 
pfFt&dent and his commoce secretary 
acting as a^'unct salesmen. 

In a speech here 0<^ 14, Treasury 
Undersecretarv Lawrence H. Shun- 
mers noted that after a period of 
competitive decline. “American 
firms are bade . . . because they've 
rebuilt, leading the world in cor- 
porate renewal.” 


This resuigence was posriblc, Mr. 
Summers added, not only bemuse of 
an izmovative private sector, but be- 
dujse Mr. ClintCHi had a founda- 
tioQ for sustained eccnomic'growth: 
“This administration came into office 
oommitted to getting our domestic 
economic policies ri^t. And 1 think 
it’s important to say that we delivered 
on that co mmitm ent-- 

That may be a partisan analysis, 
but it happens to be correct. 

Mr. Clinton has mostly been on 
business’s side. They cheered him on 
when he strongly b^ked their view 
against that of labor and many envi- 
ronmentalists in support w the 
North American Free Trade Agree- 
ment and of GATT — even at the 
risk of disaffecting some of his most 
important allies in the Democratic 
leadership in Congress. 

In the dispute with China over 
human rights. Mr. Clinton clearly 
was influenced by the business com- 
munity’s Niew that withholding 
most-favored-nation trade benefits 
would be counterproductive. In the 
end, thou^ he had once threatened 
to end trade privileges if Beijing did 
not grant more liberal human rights. 
President C^tpn listened to the 
business communi^. 

Mr. Clinton has also appeared at 
rallies on the home ground of major 
corporations, such as Boeing Co.; 
thm, he stressed that he would be 
on the American company’s side as 
it fought off Europe subsidies for 
the Airbus consortium. He has di- 
rected the Eaqpon-lpqjon Bank to 
match loan subsidies offered by 
France and other competitors. 

Many of these glides can be de- 
fended as benefiaal for the United 
States, not just for business — al- 
though in my view, Mr. Clinton has 
allowed too co^ a tie to devdop 
between the Commerce Dq^anment 
and big business. 

But the point is that business has 
taken all of the favors — then 
soured m Clmton. 

What is the source of business’s 
new coolness toward Mr. Qinton? 
Many business leaders qipear to be 
oursiag a grudge based on the Clin- 
ton health care refonn proposal, 
which they insist would have sloped 
a heavy cost burden on business. 

“Our concern is that the admuiis- 
tration isn't sensitive to the market 
environment in which basic business 
dedrions are made," the leader of 
one nugor business lobby told me. 

Mr. Clmton could use a kind 
word or two, and nobody owes it to 
him more than America's business 
leaders, as they tote up their profits. 

The Washington Post. 



Oe, the Man Who Talks to Trees 


S AN DIEGO —The award of the 
Nobel Prize in literature to the 
Japanese author Kenzaburo Oe is 
most timely, coinciding with two 
major events in this extraordinary 
writer's life. 

A brief background: Anyone who 
has ever read bun knows Oe the 
writer is inseparable from Oe the 
father. His son Hikari. now 31, was 
bom with severe brain damage and 


ME.4NWHILE 

remained mute until he was 6. E\ er 
since Mr. Oe decided to bring him 
up as a normal human being. Hikari 
has been in every pa^ of his wotk as 
in eveiy minute of ms life. 

For Mr. Oe, speaking on his silent 
son's behalf — by turning him into 
an ever-present character as his dou- 
ble — has been his most important 
reason to write fiction. The son has 
been studying music for many years, 
and some time ago he began to com- 
pose. although bis speech and mo\'e- 
ment have bm limited. Only a few 


LETTERS TO THE EDITOR 


Giteg(»iEed, Dehomanized 

Regarding *‘A New Book on Genes 
and IQ Rings an Old Bell** by E. J. 
Diorme Jr. and “Merit Is Merit, and 
the Races Do Not Race*' by William 
Safire (Opinion, Oct. 21): 

Radsm, in any fonn. is ugly, dis- 
heartening and disgraceful. It 
should not r^uire eithv response or 
.^bate, but in this instance, I must 
say that enough is enough. 

Your recent articles concerning 
the bo^ by Richard J. Hermstein 
a^ C^es Murray, “The Bell 
Curve," made me shudder. Their 
book is amoi^ a long list of works 
which seek to justify or TwinTTnixe the 
plight of bla^ Amancans without 
recognizing the historical adversity 
imder wbi» they were bom or the 
systematic dqsadations of their ev- 
eiyd^ lives. This dehnmanian g 
bate is offensive to all Uack people 
who attempt to make some sense of 
their place in society, raise their 
families and live in dignity. These 
intellectual exercises, veiled as sd- 
ence or liberali^ are unproductive 
and wrought with pretense. 

From ^ old plantations of the 
South to the new plantations we 
euphemistically call the inner dfy, 
can anyone honestly say that atti- 
tudes ^ve diangcd? We are con- 
stantly sulgected to statistics which 
seek to define us as intellectually 
inept, morally commt, unproduc- 
tive. lazy and child-lilb. These qua- 
si-intellectual atteaQ>ts to cat^orize 
us serve only to dehumanize us even 


more. Perhaps this is the point of 
these exercises? 

It would be a challenge of histori- 
cal significance if any of these writers 
were to submit to the slave quarters 
of the izmer cities to partake in the 
intdligence tests of eveiyday life. We 
could aB eigoy rea^ng the study, 
going over tfaie numbers, judging th^ 
diaracter, challen^ng mdr human- 
ity. Until tins is done, numbm or 
opinions.won’t matter veiy much. 

■ PAMELA DOVE 
Paris. 

Hie Saudis’ Real Problem 

RegjBtr^ng “Saddam: Contain His 
Desperate Effects to Intimidate” by 
Flora Lewis and “Lots of Big Frt^ 
Urns D<m*t Have Military Solutions** 
by William Pfi^ (Opinion, Oct. 14): 

I hate to stick it to two of the Trib's 
stars, \^filliam Pfaff and Flora Len^ 
for both whom I have the greatest 
possible req)ect. But the comments 
on Saudi Arabia in their respective 
op-ed pieces are miles off tte mark 
and cannot be allowed to stand. 

William PfaS suggests that the 
problem for the Saudi royal family is 
its it^ressioQ of “secular, hbaal, he- 
donistic and mateiiaUstic values set 
loose in the counuy." Far from it the 
main difficult comes ftmn a bwch 
of badcward-lookii^ bigots who use 
leiigton as a pdiiical weqxm and 
would Hke to take Saudi Arabia bai^ 
to the seventh century rather than 
forward to the list 

Flora Lewis is also off target with 


her suggestkm ttmt the Saudis do not 
want to see the back of Saddam. On 
the oontraiy, as my foreign secretary 
heard from the bps of King Fahd 
himsdf only days ago, tb^ do — and 
the sooner the better. The King, inci- 
dentally, was in fine shape. 

DAVID GORE-BOOTH, 
British Ambassador. 

Riya^. 

Some Lose, Smne \nii 

Regarding the reporr “Bentsen's 
Dollar Talk: 6 Very Expensive 
Words*' (Oct. 22) by Alan Friedman: 

The artide says that the recent 
“gaffe" by the U.S. tieasuiy secre- 
tary, Ll(^d Bentsen, cost “at least a 
billion dollars." 

1 would like to pdnt out that 
someone had to buy the currency, 
and those pecole modlf “at least a 
billion dollars.^ You have effective- 
ly pointed out that currency trading 
is a speculative business (as in “cur- 
rent speculators"). 

Current speculators take risks 
for a living. If th^ drm’t have the 
patience to find out if a politician 
means what they think he means, 
then tb^ deserve to lose. 

Somewhere in the market there 
arc probably traders who held thdr 
dollars for — gas^i — six whole 
hours while all this was going on. 
They didn't lose a thin g, and they 
are probably smiling ri^t now. 

ALAN B. STROM. 

Bristol. England. . 


Bv Ma«tao Mivoslii 


u eeks aci\ Hikari completed his .sec- 
ond CD of pieces lor piano ami 
flute. This recor<fing. like his 
one. procu.ses to be'a great sucet?ss 
among mu&ic lox’ers of .Tupun. 

.As a >hTittir. Mr. Oc has just fin- 
ished the fiTiki draft of his huge inJ- 
Ogj'. ".Moeagaru nuJi.’i no ki" t“.A 
Green Tree in Rames," named afiei 
the Veals pncni). which he in.si.sis on 
calling his last novel. .As lie tells it. 
now that Hikari can express sadness 
and happiness in his own full “voiee." 
Mr. Oe’s \eniriloquist role is ending. 

.As Hikari grt^dualK gains ind^ 
pendence, Mr. Oe feels tils presence 
receding from thepuge.s of his narra- 
tives. Tbe lime has come for him to 
^uit his fiction, as Mr. Oe describe.^ 
it. As if to celebrate this moment of 
fuifiUmcni, the English word ‘'Re- 
joice!” concludes die first drafi of 
the last part of his ”Iast'' work. Tbis 
event — the completion of the novel 
and the public renunciation of fic- 
tion — occurred only weeks before 
the Nobel award was announced. 

The award is ai.xo timely becau.se 
Mr. Oe's recognition abroad will 
reawaken the Japanese readers who 
have lately been, though ihorou^- 
ly respectful, neglecting Mr. Oe's 
intellectual and literary achieve- 
ments. Mr. Oe is too difficult, they 
complain. Their fascination has 
been with vacuous manufacturers 
of disposable entertainment. 

The malaise of Japan may be 
more critica!. There has been 'little 
probing of contemporary Japan’s 
cultural life. Neither new novelists 
nor social analysts are emerging who 
seriously question Japan's preoccu- 
pation with buying and selling, ex- 
cept among sozne women writers. By 
erapharizing Japan's homogeneity 
and proclaiming the “spirit of har- 
mony,” mainstream critics and 
scholars refrain from self-analysis. 
Convinced of Japan's “uniqueness,” 
commentators often fail to anicu- 
late Japan's position in the world. 

The Japanese government curi- 
ously shamefully — has yet to 
honor Mr. Oe in any form. The 
Education Ministry* is nastily form- 
ing a committee, according to the 
Asahi new^aper, to consider the 
possibility of conferriug the imperi- 
al Order of Culture on this “contro- 
versial’* author, now honored by a 
Nobel. When a quiet inquiry was 
made, Mr. (je firmy expressed 1:^ 
intent to decline the offer. The state- 
initiated Order of Culture was 
Bgjd&st his idea of democrary. Mr. 
Oe's decision may encourage those 
in Japan w^o are still grappling 
with life's big questions and the 
world’s lasting problems. 

Mr. Oe is a formidable scholar. 
He reads Dante is Italian, Confu- 


cius in Chinese. Faulkncrin Englis'i. 
Rabelais and ^rtre in French, th-: 
rormaiisl.*^ in Russian and “The TaL- 
of Genji” in the original. And he 
remembers cx'etyihing. 

Once. 1 was w-iih him \'isittns :. 
university rare-book collection. Vh- 
ibiy excited over the disco\'ery of .<. 
rare facsimile edition of Williant 
Blake's long poem, “Jerusalem.'* he 
began to recite it from memory, i 
left him alone with an astonisheJ 
libruriun. and the recitation was .siii' 
going when 1 relumed. Of course, 
learning by itself does little good tc 
anyone. Nlr. Oe. howc\cr. ne\e. 
ieaws knowledge distant from the 
opinions he rorni.s and actions he 
lakes in thought :md in his everyday 
life. He is a thoroughly engaged 
man. ru^iarly spealdng up for Ja- 
pan’s minoniic.s and protesting the 
country's political system. 

There are few translations into 
English and other Western lan- 
guages of this remarkably prolific 
uTi'ter. His language and style are 
said to be complex and difficult, 
nearly untranslatable. Those who do 
read him will find his mythological 
cycle not just sober and speculative, 
but saturated with cosmic laughter 
and grotesque humor. 

Many of his short stories are ^ 
funny sk they are accessible. There is 
no reason why there can’t be many 
more translations of his works. 
There are indeed very few writers 
now in the world who’ can compare 
with him in candid description, 
complex ideas, bold imageiy and 
sudden illuminations and a protnng 
sense of history and justice. 

Mr. Oe has long had the habit of 
spending hours literally tallting to 
trees. When he visits a new place, for 
example, he often walks along in the 
woods and grewes, stopping to gaze 
from time to lime and Mnding down 
to pick up a fallen leaf and guessing 
the tree’s identity, origin and histo- 
ry. He can cite the names of almost 
all the trees in the world in Japanese, 
English and Latin. Mr. Oe calls trees 
his friends. I wonder if this prize will 
place him among the men and wom- 
en of Asia and other parts of the 
worid outside Jiman so that the 
world may know him as closely as 
Mr. Oe knows it. 


The writer is Hajime Mori Professor 
of Literatwe'at the Universi^' of Cali- 
fornia, San Diego. He amtributed dtis 
comment to the Los Angeles Times. 


Letters intended for puhUcation 
should be addressed “Letters to the 
Editor^ and emtain the \mter*s si- 
gnature, name and full address. Let- 
ters sh^d be brief and are subject 
to eiSifng. We cannot be re^tons^ 
for the return of unsolkited ma- 
nuscripts. 


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INTERNATIONAL HERALD TRIBUNE, TUESDAY, OCTOBER 25, 1994 


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Aristide Picks Businessman osPrimeMinister 


By Tod Robbcrson 

WahiHgun Post Ssmce 

PORT-AU-PRINCE. Haiti — Presi- 
dent Jeau-Benraod Aristide reportedly 
infonoed Pariiaxoeat on Monday that he 
had selected a former commerce minis- 
ter, Sinaick Micbd, as his new prime 
minister, effectivdy ending a long peri- 
od of inlemational angst about the po- 
litic direction his newly restored gov- 
ernment would take. 

Sources close to Mr. Michd said that 
his selection was aimed at appeasing the 


in Haiti currently hovers around 70 per- 
cent, while nearly two-thirds of the 
country lacks potable water. 

At least two U.S.-trained economic 
experts — Leslie l^latour, a former 
World Bank economist, and Leslie Vol- 
taire, a former education minister — 
had threatened not to participate in key 
govenimeni po^ if Mr. Michel were 
not named prime minister, political 
sources . 

Mr. MicheL 57, a ^lineal moderate 
who is a gasoline retauer and owner of a 


nation’s powerful business elite, which rice-imponing business, has not public- 
generally opposed U5. militaiy in- ^7 conmmed his acceptance of the prime 


generally opposed the U5. military in- 
tervention that led to Father Aristide's 
return from exile on Ocl 15. 

Father Aristide’s ability to build 
bridges to the business community is 
seen as ondal to stimulating badly 
employment and rewving an 
economy wracked by succesave interna- 
tlcmal commercial embargoes imposed 
against Haiti since the 1^1 military 
coup that had forced him into exile. 

The ^pointment of Mr. Michel had 
been dtra by several knowledgeable 
sources as a cnidal step in w inning sup- 
port from fmeign investors and attain- 
ing badly needed international funding 
for development. Urban unenq^Ioyment 


minister’s job, nor has Father Aristide 
made an ofndal ann ouncement of his 
^pointmenL But an aide to Mr. Michel 
said that he had formally accepted the 
post and had sent a letter to parliamen- 
tary leaders informing them of his plans. 

*‘The whole country knows Vtim, and 
an the sectors b^eve in him,” the aide 
smd. She admowledged, however, that 
the job ahead would be difficulL 
win be obliged to build the country 
anew.” 

A prominent businessman who at- 
tended a lunch «itb Mr. Michel on 
Monday quoted him as saying he would 
coonriD the appointment publicly on 


Tuesday. A Port-au-Prince radio sta- 
tion, quoting reliable parliamcDtary 
sources, said that the speaker of the 
Chamter of Lyuties, Robert Monde, 
would convene a house session Tuesday 
to begin confinnation hearings. 

Both chambers of Pariiament must 
confirm Mr. I^chd’s appointment be- 
fore he can assume the post from the 
caretato prime minister, Robert Mal- 
vaL 

^plomats said Mr. Malval had been 
the C^ton administration's Hrst choice 
to lead Father Aristide's cabinet into an 
uncertain era of national reconciliation 
and rectmstruclion, Mr. Malval, howev- 
er, rejected U.S. pressure lo withdraw a 
resignation he tendered to Father Aris- 
tide in December 1993 during a public 
dispute with the then-exiled presidenL 

A hfichel associate said that Mr. Mi- 
chel had origijiaUy rgecied tiie presi- 
dent’s offer to head up the government, 
saying he was "saving hims elf the aggra- 
vation of working mth Aristide.” Mr. 
Michel served only 60 days as commerce 
minister in Father Aristide’s first cabi- 
net, in 1991, More quitting He report- 
edly had a number of disputes with 
other cabinet members. 

Although Mr. Michel was a political 


sponsor of Father Aristide's 1990 bid for 
the pre&dency and a friend of the presi- 
dent for 12 years, be reportedly had 
grown frustrated with the populist presi- 
dwt's tendency to make snap decisions, 
often based on the counsel of friends. 

Several prominent businessmen dted 
this tendency in opposing Father Aristi- 
de’s return to power. Otie industrialist 
said the president needed a prime minis- 
ter who would "serve as a brake” and 
"be willing to stand up to him.” 

Maintammg a clear line of authority 
was a key condition by Mr. Michel for 
his accqitaiice, a political source said. 

After Mr. Michel’s initial rejection of 
the post. Father Aristide floated the idea 
of naming Fordgn Minister Caudetie 
Werleigh, a close per»nal friend of the 
president who was rejected by the busi- 
ness elite as a radical. 

Diplomats said the Ginton adminis- 
tration also had made clear to the Aris- 
tide that it disapproved of that choice. 

Tbe historian Georges Michel, who is 
not related to Smarck Michel, said that 
de^ite the U.S. denials, a widespread 
perception persists in Haiti that Wash- 
mgton had <£ctated its choice of prime 
mmister to Father Aristide. 





Thiinv Bfliuirr ’Anncc fmnst-he-'t 

Mr. Michel at a P<Ht-aii-Prince travel agency Monday in which he has a business interest. 


U.S. Tries to Bolster 
Africa Peacekeeping 


By Reward W. French 

New York Times Serviee 

MZUZU, Malawi — With 
concern growing over posrible 
violence in nei^boting Mo- 
zambique, a senior American 
del^a&» idsited this newly 
democratic coontry as part of a 
five-nation African tour aimed 
at improving peacekeeping. 

Officials said the misaon, led 
by Deputy Secretary of State 
Strobe Talbott, was a dqrarture 
for U.& dmiomacy in Africa, 
where Washington has decided 
to increase militaiy cooperation 
with the mwing oomber of 
countries that have switched to 
niultipar^ demoex^ after de- 
cades of dictatorships. 

The effort, '^lich aims at pro- 
viding train^Dg, logistical, fi- 
nand^ and intdli^ce aid to 
the newly democratic countries, 
intends to encou^e efforts to 
contain confixets in neighboring 
states. Offidals say such con- 
flicts threaten peace and eco- 
nomic devdopment throughout 
the continenL 

"There is no shoi^e oi Afri- 
can countries wilHng to take 
part in peacek^ing efforts,” 
Mi. Talbott said in an inter- 
view. "But they also come for- 


ward to us and say, 'We are 
devdt^nng countries, we have 
the World Bank and IMF look- 
ing over our shtHildeis, and we 
d<m't have the capadty to do it 
by ourselves.* " 

Idr. Talbott said that after 
civil wars in Somalia and 
Rwanda, where the United Na- 
tions sponsored peacekeeping 
and the United States provided 
aiiiift and other lo^stical sup- 
port, Washington was studying 
the idea of providing C-137 
transports to a regional organi- 
zation of southern African 
countries to help them respond 
rapidiy to crises. 

In Edition to talks with po- 
litical leaders in 2mbabwe and 
Malawi, Mr. Talbott addressed 
groups of soldiers and officers, 
telling than that "as a result of 
the UN’s beizig overburdened, 
the mtemational communis is 
in danger oi not beine able to 
re^emd quickly enou^ to new 
oises when occur.” 

After visiting Malawi, Mr. 
Talbott’s delegation will stop 
briefiy in 2^aijre before gc^g to 
Ghana and Ivory Coast 

Ghana, which is head of the 
West African Economic Com- 
mintily, has played a lead role 
in mention efforts in Liberia. 


U.S. Group Proposes a Loan 
To Hdp RuDonda Diplomats 

New York Tima Semee 

UNITED NATIONS, New York — To help ease a finan- 
cial crisis at Rwanda’s diplomatic miMinns in the United 
States, the relief group AmeriCares is planning to lend the 
Rwandans $200,000 free of interest for six months. 

The loan win be given "to the people of Rwanda” to be 
used in any way the government chooses, said Stahen M. 
Johnson, the president of AmeriCares, a nonprofit group 
based in New CJinaan, Connecticut 

Joseph Mutaboba, Rwanda's charge d’affaires in Washing- 
ton. saM he hoped the novel approach to relief would become 
more widely ured, adding: "We need the kind of money to 
buy a computer, a fax, a printer, some paper. You see the kind 
of needs we have. If we lose our misaon electridty and have 
no fax working, I cannot even contact my government. We 
need the kind of help that will get the machmeiy going.” 

The pli^t of Rwandan diplomats in the United States 
came to li^t last week when the police in New York an- 
nounced tltat Rwanda’s acting foragn minister, Jean-Marie 
Ndagijimana, was Tnissing, along with $1 87,000 in cash he was 
siippc^ to have pven to Rwandan diplomats here and in 
Washhigtoo to pay Rwanda’s bills. Mr. Nda^jimana ^>pears 
to have gone to France, but he has not been seen and there has 
been no news of the money. 


Zimbabwe and Malawi have 
been among the most active Af- 
rican countries in peaoeke^mg 
efforts on the continent, play- 
ing si gnifican t roles in So malia 
aim Rwan^ 

In addition to Rwanda, and 
neighboring Burundi, where 
clashes have sent refugees 
streaming into Zaire, officiius in 
Zimbabwe and Malawi ex- 


pressed concern over the long 
dvil wars in Liberia and Ango- 
la, and worsening political coa- 
litions in Nigeria. 

But their deepest immediate 
concern is over ihe potential for 
renewed strife in Mozambique, 
where national elections will be 
held on Thursday and Friday. It 
is hoped that the vote will seal 
the end of 20 years of dvil war. 


/• w ♦•V.. 








tal h.aifc. enbitttc 

r» vtvt , *mi im* n^j 


People 
going places 
get more out 
ofiht. 


You tell us you enjoy the 30 minutes you spend engrossed in your paper. 
. .It appears you don’t.nuss a single page.t 

■ You also tfili us that last year alone you flew on an astonishing 4.76 million 
business air trips and rented 1 .56 million cars.* 

. It appeais then, that you and Ihe leading travel companies who advertise 
wjdt us are destined to meet in the p^es of the international Herald Tribune. 

' For summaries of Ihe surveys from which these facts are taken, please call, 
in Europe, James McLeod wi f33-l) 46 37 93 81 ; in Asia. Andrew Thomas on 
(65) 223 6478; in the Americias, Richard Lynch on (2 1 2) 752 3890. 


: S«W«A- ^ VIVA Sun'eys ’92 /'93. * Reader Survey '94. 






‘Super Rice’ Is Heralded for 21st Century 


By Keith Schneider 

New York Tima Serrice 

After five years of work, 
plant sdentists from the Inter- 
national Rice Rttearch Insti- 
tute in the Philippines say they 
have developed a new type of 
rice that will increase harvests 
20 to 25 percent 

After the new variety is com- 
merdally available, probably in 
five years, it will eventu^y 
yidd enough to feed 500 millira 
more pet^Ie than current rice 
yields, said Ken S. Fikher, the 
institute’s director of research. 

The world’s population, now 
estimated at 55 billion, is ex- 
pected to reach 8J billion by 
2025, according to the World 

Bank. 

But an American rice breeder 
cautimied that the results were 
preiiminaiy and that it would 
be years More the new plant 
would be introduced widely 
and aocq)ted by farmers. 

The announcemoit of the de- 
velt^ment of a new hi^yield- 
ing nee plant was made Sunday 
at an internalional agricultural 
research meeting at the World 
Bank, in WashingtoiL 

Lester R. Brown, president of 
the WorldWatch Institute, in 
Washington, and an authority 
on grain production, said that 
in the next 35 years the demand 
for rice in Asia would double as 


the population soared. During 
the same period, though, the 
amount of land devmed to 
growing rice is likely to shrink 
considerably, he said. 

From 19W to 19M, he said, 
the area cultivated for rice in 
China decreased 2 percent as 
paddies were drainra for new 
factories and other buildings. 

"The thing to keep in mind is 
that as acreage declined 2 per- 
cent, yields only increased 2 
percent,” said Brown. "So 
you have a wash in China. Pro- 
duction has been undianged for 
the last four years. That is why 
any advance in yields of 20 to 
25 percent is so exciting.” 

Mr. Brown also is the senior 
author of "Full House: Reas- 
sessing the Earth’s Population 
Caning Cecity.” 

Several American plant 
breeders were more cautious, 
however. 

"There be a little bit of 
hy|>e associate with this,” said 
Kent McKenzie, a plant br^- 
er with the Rice Experiment 
Station, a fanner-supported re- 
search center, in Biggs, Califor- 
nia. 

"It’s a huge yield increase, 
but thoe are all kinds of ways 
to get those statistics,” he add- 
ed. "I would be a little guarded 
in my evaluation oC that in- 
crease.” 


The new variety was devel- 
oped by a team headed Gur- 
dev S. Khush, a plant brewer 
who has help^ jwoduce more 
than 300 varieties of rice during 
his 27-year career at the Inter- 
national Rice Research Center 
in Los Banos, about 70 kiloine- 
ters (45 miles) southeast of Ma- 
nila. Mr. Khush joined comput- 
er technology with classical 
plant breeding and designol an 
entirely new kind of rice plant. 
Mr. Fischer said. 

Rice is a willowy, graceful 
plant, almost like a bouquet of 
long grasses. Most modem rice 
plants have roughly 25 stems, 
called tillers. Only about 15 of 
the tillers produce the seed- 
bearing flowers, known as pani- 
cles, ^ the number of rice 
grains in each panicle is gener- 
ally about 100. 

Mr. Khush’s team studied 
rice plants on computers. The 
team determined that the best 
way to produce more grain was 
to direct most of the plant’s 
energy to developing panicles 
by reducing the energy devoted 
to producing tillers. Mr. Khush 
searched the mtemational cen- 
ter’s collection of rice and se- 
lected plants that had fewer 
tillers, more grains in their pan- 
icles and stronger roots. 

He crossed the varieties and 
stabilized the traits he wanted 


to keep. Last spring, enough 
seeds were available to test the 
new plant, called “super rice” 
by the research center, in small 
plots. Mr. Fischer said the tests 
were a success. 

The new variety has about 
eight tillers, each m whichpro* 
duces a panicle that is ^ed 
with almost 2(X) ^nins. 

The increased yield is a result 
of beiiig able to put more of the 
new plants on the same amount 
of land 

Mr. Fischer said it would 
probably take five more years 
for Mr. Khush’s team to breed 
into the new variety other valu- 
able commercial traits like nat- 
ural defenses against diseases 
and insects. 


Iranian Shiite Leader 
Improving in Hospital 

The Assoaettd Press 

NICOSIA — The lOO-year- 
old religious leader of Iran’s 
Shiite Muslims was in better 
health Monday after being hos- 
pitalized with a fever, Tehi^ 
radio reported. 

Grand Ayatollah Moham- 
med All Araki, who was taken 
to a Tehran hospital Sunday 
from his home south of the cafH 
was in “satisfactory” con- 
dition. according to the radio. 




ENV BDREAHS 


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Pages 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, OCTOBER 25, 1994 


RoDo May, U.S. Psychologist, Dies at 85 


By Eric Pace 

Wfw York Tima Str^ee 

Dr. RoUo May, 8S, an inno* 
vative American psychologist 
.and psychotherapist who was 
widdy known through his writ- 
ing died Saturday at his home 
in libuFon, California. 

The cause was congestive 
heait failure. He had been in 
declining health for two years, 
said Nancy Ramsey, a friend 

Dr. May, who grew up in 
hfUchigan, bad a doctorate in 
clinicm psychology from Co- 


lombia Oniveisity and received 
psychoanalytical training early 
in his career. He wrote several 
books that became highly influ- 
ential in the worid 3[ psyches 

ther^y and in the culture be- 
yond it 

In his writings, Dr. May em- 
phasized people’s desire for 
self-fulffllment and the positive 
a^Mcts of humanity’s potential 
His admirers said he was skilled 
at making psycfaol(}gical and 
philosophical concq>ts accessi- 
ble to lay people. 


and W01” was described as con- 
tain^ an argument for the 
fashioning of values appropri- 
ate to pecmle’s biologicm, his- 
torical ana individual sdves. 

Dr. May was one of the 
and among the most influential 
thinkers in (he field of psyebo- 
thmpy to be influenced by the 
Europe existentialists. In the 
19S0s, he was also one of the 
rirst thinkers in the Held of psy- 
chotherqiy to formulate a view 
of human nature that was not 
based on Freudian principles. 


Rather to succeed Walter Cron- 
kite as anchor of “CBS Evening 
News" and put “Sunday Morn- 
ing" on the air, died Sunday in 
Laurel, Maryland, after a 
stroke. 

Mr. Leonard joined CBS in 
1945 and, afterahighly success- 
ful career as an on-air host in 
radio and then trievision, he be- 
came a full-time correspondent 
for the network in 1959. 


One of his main insights was 
a conviction that much of hu- 
man behavior is motivated by a 
profound, underlying sense of 
anxiety, which he felt it was 
important to addiess in psycho- 
tho:^. 

He was also one of the origi- 
nators of the movement known 
as humanistic psychology and 
was a co-founder of the Assod- 
ation for Humanistic Psycholo- 
gy. The movement blossomed 
in the 196Cte and provided the 
intellectu^ platform for the hu- 
man potenziai movement, 
wfai(± also bloomed in that de- 
cade. Both movements remain 
influential today. 


Dr. May’s best-known books 
included “Lx>ve and WiU" and 


“The Courage to Create" which 
posed the question; '*Sha]i we 
seize the courage necessary to 
preserve our sensitivi^, aware- 
ness and responsibility in the 
face of radied change?" 

When it appeared at the end 
of the turbulent 1960s, “Love 


William Lemiard, Reporter 
And News President 
WASHINGTON (WP) — 
W illiam Leonard, 78, the CBS 
News president who chose Dan 


He later produced, reponed 
and narrated a number of “CBS 
Reports," and for a number of 
years supervised political cover- 
age at the division. In 1965 he 
was named a vice prerident and 
moved into top management 
On his watch, “60 Minutes" 
was invented and, in 1962, he 
helped create the flrst voter pro- 
jections for a national election. 

Jerome Wiesner, MTT Head 
And a Top Kminedy Adviser 
NEW YORK (NYT) — Je- 
rome B. ^esner, 79, the influ- 
ential science adviser to Presi- 
dent John F. Kennedy who 
went on to be president of the 
Massachusetts Institute of 
Technology for nine years, died 
Friday in Watertown, Massa- 
chusetts, after an unspecified 
illness that lasted several 
months. 


post, mtb the title of special 
assistant to the president for 
science and technology, in Feb- 
ruary 1961. He stepped down in 
1964, early in the Jdmson ad- 
ministratioa. 

Mr. Wiesner’s many activi- 
ties in the Kennedy era includ- 
ed much preliminary work on 
the treaty to ban all but under- 
ground nuclear tests that was 
signed in 1963 by the United 
States, the So\iet Union and 
Britain. 





Frands Steegmuller, 88, 
Translator of Flanbert 


Mr. Wiesner worked with 
Mr: Kennedy in the 1960 cam- 
paign, then took the adviser's 


NEW YORK (NYT) — 
Francis Sieegmuli«', 88, the 
American novelist, biographer 
and translator whose works on 
Gustave Flaubert illuminated 
the agonies and thrills of creat- 
ing fiction, died of heart failure 
Thursday in Naples, where he 
had a home with his wife, the 
writer Shirley Hazzard. 

Mr. Sittgmuller was a prodi- 
gious writer, whose output also 
included highly admired biog- 
raphies of Jean Cocteau, Isa- 
dora Duncan and Guy de Mau- 
passanL 

His 1957 translation of “Ma- 
dame Bovaiy," some scholars 
say. remains unsurpassed. He 
alro wrote mysteries under the 
pen name David Keith. 

Peter O. Mur|diy, 46, a for- 
mer deputy United States trade 
representative who was the 


Dr. Rollo May, innovative 
psychologist and author. 


chief American negotiator of 
the U.S.-Canada Free Trade 
Agreement in 1988, ^ed of a 
brain tumor Thursday in Gievy 
Chase, Maryland. 

George Gay Jr., 77, a World 
War n aviator who became an 
American hero as the only 
member of his squadron to sur^ 
vive an attack on Japanese war- 
ships during the battle of Mid- 
way on June 4, 1942, died of a 
bean attack Friday in Atlanta. 

RabN ShkKno Cailebach, 69, 
the foremost songwriter in con- 
temporary Judaism, died of a 
heart attack Thursday in New 
YotIl Rabbi Carlebaim put the 
words of Jewish prayer and cer- 
emony to music that is heard at 
^nually every Jewish wedding 
and bar mitzvah. 


HEART: MTOEAST: Christopher Urges Wide Effort to CiuFundmgfor Terrorists 


Furtive Caught 


umiea r<ecworx lor ur- - 

^^plant, paid for by EAST: Why Leaders of th^ Revolts Tumbled From the Heights of Power 

Ivania M^caid funds ... 


Cootinoed from Page 1 
his family, who had moved to 
Philadelphia. 

Once there, Mr. Moya en- 
rolled in a tramsplant program 
at Temple University, conceal- 
ing information about the crim- 
inal diaiges he had faced. 

Alfred Bove, the chief cardi- 
ologist at Tenq)le and a mem- 
ber of the tian^lant lea^ said 
that Mr. Moya met medic^ cri- 
teria for the operation and that 
his background would not have 
been considered in any case. 

Only 34 percent of the 6,200 
people waiting for heart trans- 
plants were able to undergo the 
operation last year, while 12 
percent died before suitable do- 
nors could be found, according 
to the United Networic for Or- 
gan Sharing . 

The tran^lant, paid for by 
Pennsylvania M^caid funds 
and {formed Feb. 24, was 
sneensful and as part ^ his 
cardiac rehabilitation, Mr. 
Moya began taking drugs u> 
suppress the immune system’s 
tendency to rgect the new tis- 
sue. 

. After the U.S. attoin^s of- 
fice in Manhattan learned of 
these devdopments. Mr. Moya 
Vas reindicted on charges of 
involvement in six muide^ one 
^tten^ted murder and six Idd- 
aappings. 

] But Judge Griesa, after being 
told that Mr. Mo^ would die 
without crucial daily medica- 
fions and would get along best 
under the continuous care of his 
doctors in Philadelphia, agreed 
to release him to home custo<^ 
there if he wore the electromc 
tnonitoting device on his ankle. 

“If he flees, he flees — too 
bad." Judge Griesa said. “I 
think we comd determine that it 
would be virtually siudde." 

For nearly three months, Mr. 
Moya coii^>lied witii the court’s 
requirements and his medical 
r^men, tali^ his medication 
and keq>iDg ms appointments 
with doctors in Hiiladelphia 
and his lawyer in New York. 

But on July 19, with the 
bracelet turned off for what was 
to be a trip to New York to 
consult Mr. Edelstein about his 
approaching trial he fled. 

Mr. Moya went to Santo Do- 
mingo somi afterward, law-en- 
forcement officials said, and he 
found a source for the prescrip- 
tion drugs he needed. 

“The medication is avmlable 
on the black maricet," an offi- 
cial said. 


Gntiiiiied from Page 1 

get of a new cradedown 1^ the Israeli 
Army in the Gaza Strip. 

While U.S. officials have not revealed 
specific evidence of financial ties between 
the Tehran government and Hamas, say- 
ing most of it is classified mtdiigence ar- 
terial they do cite a pattern of active 
“moral simporL" 

According to a U.S. counterterrorism 
official Iranian government officials have 
Fq>eatedly rpi'^ssed thdr sc^darity with 
groups seeimg to undermine the Ivfiddle 
last peace process and have specifically 
allied themsdves with Hamas. 

In >^]ril the Iranian foreign minister. 
Ali Akbar Vdayati. told an American jour- 
nalist that Iran was supporting Hamas but 
deni^ the help was m a military nature. 
He skd Iran would continue to offer polit- 
ical and “emotional" support for groups 
<^)po$ed to peace treaties with Israel 


Yasser Arafat, leader of the Palestine 
Liberation Or^nization, referred last 
week to Hamas* support “flom well- 
known outside parties," an apparent refer- 
ence to Iran. 


Saudi Arabia and Egypt's Muslim 
Brotherhood also reporte^y provide mon- 
ey for Hamas’ social services in Gaza. 


“Hamas pet^le have said themselves 
that they have received support from 
Tran," Martin Kramer, associate director 
of the Mosfae Dayan Center at Tel A^nv 
University, said in an interview. 

He noted comments by PLO officials 
last year saying thQr believed Hamas had 
receiv^ $20 rnillion to $30 million from 
Iran. And he quoted a Hamas official as 
saying last year, in Tehran, that Iran’s 
backing for the group could not be com- 
pared “to the bimons the PLO is getting." 

Other suf^rt for Hamas , Mr. Kramer 
said, comes from individual backers of the 
Palestinian cause in and from 

wealthy Gulf A^>s in particular. 


Mr. Christopher’s speech broke no new 
round on U.S.-Svrian relations, but the 


ground on U.S.-Svrian relations, but the 
secretary re-emphasized the need for 
quickening the pace of Syrian-Israeli talks 
aimed at a peace treaty between those 
nations. 


“In my view, the time is fast approach- 
ing when some very difficult demons 
must be made," he said. 


CratinaedfromP^ 1 

identifying vrith those former fighters be^ 
cause It sees them as a kmd of reproach." 

Second, many of the dissidents Indeed 
the skills requir^ by the transition. Men 
who as punishment had washed windows 
for 20 years suddenly found themselves in 
charge of ministries, flri Dienstbier. for 
Ldstance, went from stoldng coal to run- 
nJing CzMhoslovalda’s ForeigD Ministiy in 
a week. 

Other factors puriied voters away from 
the dzssidaats. As tire authors of the firsts 
radical economic reforms to ^lace sodal- 
ism with capitalism, the dissidents and 
tbdr pxditicd parties bore the inevitable 
politic baddash against the latter cost of 
diange: layoffs, price increases and the 
emergenre of wide social inequities. 

Faced, however, with what a Polish writ- 
er. Adam Midmik, recently called a “Vd- 
vet Restoration” of communism, a debate 
is raging among the revolutionaries. 


reaucracy that had ruled each country and 
was the ^ to the party’s power thus was 
left relativdy intact. 

Fear of Soviet reaction also restrained 
the first post-<^mmanist governments. 

In Poland, General Wojciech Jaruzelski 
was dected president of the first post- 


Feuds infected dissident political parties 
in Hungary, Czechoslovakia. Romania 
and Bulgaria as wdl. With the daun tin g 
of economic reconstruction before 
th^ many parties turned to populism as 
an easy way to attract voters. Some parties, 
such as those in Hungary. Romania, Bul- 
garia and Sovakia, pitched policies tinged 


Communist government in 1989 as part of with right-wing nationalism and anti-Sem 


a deal worked out with the Solidarity labor 


^ost dissidents lend to 
be a bh impractical/ 
Vaclav Havel, 

Gsedi presideBt 


Did they surrender power too easily to 
the ex-Ccxomunists in PoUmd, Hungary, 
Bul garia, Romania and, earlier month, 
Slovakia? ^ould more have been done to 
purge Communists and informers from the 
ranks of the elite and prevent them from 
moving effortlessly bau into the haiia of 
power? 


The rise to power of the dissidents in 
1989 and 1990 was one of the most dra- 
matic changes in the late 20th century. 

Parties 1 m by longtime opptments of 
Communist rule came to power throu^ 
free dections in Poland, Hungary and 
what was then Czechoslovakia, and non- 
Communist political parties appeared for 
the first time since Wimd War D in Roma- 
nia anri Bulgaria. 

But partly because of a desire for a 
stable transition and partly because many 
of the dissidents bdieved they were fight- 
ing a system that appeared almost immuta- 
ble, many conaproonses were oaade with 
the ex-Communists. The Communist bu- 


union. This was the same Mr. Jaruzelsid 
tAso had laundied a Tnartifli law crack- 
down gainst Solidarity in 1981, jailing 
hundreds of actimts. 

Af^ ele^ons in June 1989. Mr. Jaiu- 
zelski^ appmnted Tadeusz Mazowiedd, a 
prominent Catholic intdlectual and Soli- 
darity adviser, to lead the Polish govem- 
menL TnstgaH of dimnantTing thC Commu- 
nist apparatus that controlled each 
ministiy, Mr. Mazowiedd ^)ent the next 
y^ woridog to avoid a pur^ of Commu- 
nist Party members, calling on Poles to 
drew a “thick Une" between the Commu- 
nist past and the present Dissident leaders 
in Czechoslov akia and Hungaiy, who took 
power after elections in 1990, followed his 
lead. 


So while the Communists cirded their 
w^ons and licked their wounds, the dissi- 
dents began bickering. 

In Poland, Lech Walesa, the dectridan 
turned dissident leader, diallenged and 
beat Mr. Mazowiedd in the 1990 presiden- 
tial race. Solidarity, Eastern Europe’s first 
independent labor union, niptur^ 


BOOKS 


WINCHELL: 

Gossip, Power and the Cul- 
tore ^ Celebrity 

By Neal Gabler. 681 pages. SBO. 
Alfred A. Knopf. 


WHAT THEY'RE READING 


Reviewed by 
Michiko K^tani 


A t the height of Waller 
WincheU's power in the 
late 1930s, some SO million 
Americans — roughly two- 
thirris of the adult population 
— dther listened to Us weekly 
radio broad^t or read his dai- 
ly newspaper colu^. Songs 
and movies were written about 
him. Presidents courted him. 
And politidans. actors and so- 
cialites alike all feared him. 

Althou^ he would die a de- 
feated and largely reviled ma^ 
V^lncfaell presidM over Ameri- 
can culture for several de- 
cades, a self-appointed arbiter 
of power and taste, and an eerie 
harbinger of the culture of ce- 
lebrity and gossip that would 
take hold in the country in the 
years to come. 


• Lnurie Boi^ionio, the own- 
er of The White Bam Inn. 
Geoige Bush’s favorite restau- 
rant in his holiday home of Ken- 
nebunkptnl, Mtune, is reading 
’'Barbara Bush: A MemoirJ" 

“A rtfrediiogly candid and 
down to earth snapshot of the 
Bush pr^idency through the 
eyes of the first lady, mother, 
grandmother and the source of 
in^iiatiou of millions of Ameri- 
cans.” (John Bnmion, IHT) 



in Neal Gabler’s enthraUing 
new biography, Winchell 
emerges as a strangely emblem- 
atic figure — an avatar of “a 
cultural revolution in which 


control of the American ^enda 
shifted from Ae mandarins of 
hjph culture to the new masters 
ormass culture." 

In the 1920$, Gabler ob- 
serves, WincheU's gossip col- 
iifim — with its irrevemt de- 
bunking of the rich and famous 
spoke to a society seething 
with new ^alitarian impulses 
and discontents. 

During the Depression, his 
hectic descriptions of Broad- 
way opening s and Hollywood 
s hwianig ans provided a glamor- 
ous escape from the cruel reali- 
ties of the Depression, while his 
New Eleal populism buttressed 
his pose as a champion of the 
pec^le. 


And in the years before and 
during World War U, bis im- 
passioned denunciations of 
Hitler and his calls to arms gal- 
vanic and echoed the nation's 
to war. 

In the course of his career, 
Gabla argues, Winchell faelp^ 
redefine the media’s role in 


American socie^, introdudng 
oonoeDts all too familiar today: 


oono^ts all too familiar today: 
journalism as entertainment, 
celdirity gossip as news, opin- 
ion-making as reportage. 

Writing that WincheU was 
“arguably one of C prindpd 
architects" of modem Ameri- 
can culture, Gabler turns tire 
columnist’s life into the ^ring- 
board for a fascinating social 


history. At the same time, be 
uses a oovdistic approach to 
^ve the reader a vivid, psycho- 
logically acute portrait of Win- 
Chell hmiseir 

“Fffi not a filter," WincheU 
wrote in his autobiography, 
“I’m a 'waiter.' 1 wait until I can 
catt^ an ingrate with his fly 
and then I take a picture 

From vaudeviUe, WincheU 
sUpped into writing theatrical 
newslettei^ and from ifaere into 
the fledgling world of tabloid 
joumalism, where his ear for 
the slangy patois (A caSb sodecy 
and bis mastery of gossip quick- 
ly earned him an a^d foUowing. 
Fame on a naticoul level fol- 
lowed in the eariy 1930s vrith 
the success of WincheU’s radio 
broadcasts, broadcasts that 
broi^t distracting news of ce- 
lebrity mufriflyK^ and divorces 
to a country ruling from unem- 
ployment and unpaid bills. 

It was only a matter of time 
before WmeneU tried to trans- 
late his oracular author!^ in the 
world of edebrity gpssip to the 
broader stage of poUtics. Roo- 
sevelt him tribute, and 
WinchM repaid the compli- 
ment with Fervor, raU^g sup- 
port for the presideni’s poUdes 
both at home and abroad 


After the war and Roosevdf s 
death, ^^cbdl’s liberalism he~ 
gan to sour. T mman disap* 
point^ him and so did Dewey 
and Henry Wallace. By the ear- 
ly ’50s. he had become an ar- 
dent supporter oi Joseph Mo- 
Caithy, not soldy out of anti- 
communist fervor, Gabler 
suggests, but also ou t of a wiU- 
ingness to emp^ similar tac- 
tics of finger p^ting and timu- 
endo. 

By then, Gabler observes, 
WincheU’s columns and broad- 
casts bad grown increa^ngly vi- 
tuperative and vindictive. AU 
pretense of populist seotimeat 
had vanidied, as he used his 
power to settle purdy pearsc^ 
scores and rew^ a dvrindling 
number of friei^ 


By the early ’60s, Gabler re- 
ports, WincihM bad already be- 
come an anadnomsm, forced 
out of radio by the advent of 
television diminished as a 
mliimnifi t by hxs own sdf-dfr 
stiuctive rants. 

Having eddvated the cult of 
the ephemerd celdnily, he died 


in 1972 Iw the very unforgtving 
rules of reme he.had helped to 
invent, alone and forgotten. 


Michiko Kakutani is on the 
stc^of The New York Tuna. 


Raul Julia, 
Versatile 


Actor, Dies 


By Mel Oussow 

fiw York Tima Service 

NEW YORK — Raul Julia. 
54, an actor who distinguished 
hinudf in classics on Broadway 
and and also became a suc- 
cess in Hollywood movies, died 
Monday from compUcations of 
a stroke. 

Mr. Julia, who lived in New 
York, had suEfored the stroke 
on OcL 16 and lapsed into a 
coma Thursday. He died in 
North Shore University Hospi- 
tal in Manhasset, New Yorit, 
said a hosjnt^ spokeswoman, 
Alice Si^. 

A versatile and fearless per- 
fotiner, Mr. Julia could be 
dashingly romantic, authorita- 
tive or broadly comic with 
equal fadlicy. 

Although he was known to 
millions of moviegoers as Go- 
mez, the father in the ghoulish 
comedy ’'Tbe Addams Family" 
and its sequ^ “Addams Family 
Values,” that role was preceded 
by a long and di.sringuished ca- 
reer in me theater. For several 
decades he was a leading actor 
with Josqrfa Papp’s New York 
Shakespeare Festival 

In 1^1, he won his first fame 
as the love-struck Proteus in the 
modem musical version of 
“Two Gentlemen of Verona." 

Subsequently he played the 
title role m “Othello” as weU as 
comic draracters lilre Petruefaio 
in “The T aming of the Shrew,” 
c^rposite Me^l Streq). 

Repeatedly he shattered 
typecasting, acting in plays by 
Geoige Bernard Shaw, Noel 
Coward, Jean-Paul Sar^ and 
Harold Pinter, while also hav- 
ing a mqor career in Bro^way 

mnsirals 

Mr. Jidia delivered one of bis 
most aodaimed performances 
in Hector Babenco’s 1985 film- 



Indonesia 
Puts New 


Mr. JuHa in the 19^ movie 
“Addams Family Values*” 


“The Kiss of the Spider Wom- 
an." He played Valentin, the 
I^ticsl prisoner, opposite WQ- 
liam Hun. 

A man of strong humanistic 
convictions, he was active in po- 
litical and social causes like the 
Hunger Project, and sometimes 
chose rdes for their political 
coutenL. 

He was bom in San Juan, 
Puerto Rico, on March 9, 1940, 
as Raul R^ael Carlos Julia y 
Arcelay. After graduating from 
the University of Puerto Rico, 
he worked as an actor while also 


performing in a oightdub act 
In 15^, be came to New York. 
making his debut Off Broadway 
in a Spani^Ianguage produc- 
tion of Calderon’s “life Is a 
DreaiiL" 

One of his most cfaalleo^g 
roles was as Mack the Knife in 
Richard Foreman's experimen- 
tal veraon of “The Threepenny 
Opera’’ at Lincoln Center. 

Speaking about tiiat p^or- 
manftft^ hc sald he acted with “a 
constant nervous energy, like a 
bomb about to explode." 

His films included “The Eyes 
of Laura Mars,” “The Escape 


Artist," Francis Ford Cowo- 
la’s “One from the Heart," 1%u] 


la’s “One from the Heart," Paul 
MazuTsky’s version of “The 
Tempest," “Compromising Po- 
sitions,’’ '*The Rookie" and 
“Havana.” 


If talks are to succeed, he added, “then 
the deliberate pace of the current negotia- 
tions must ^ve way to a broader ap- 
proach." 

Mr. Clinton is scheduled to visit Damas- 
cus this week, but White House officials 
were calling ii “an investment in peace" 
rather than a moment to extract fresh 
concessions from the Syrian leader. 


SYRIA; Peace Could Be Dcaigerous 


CoDtioiied from Fsge 1 


itism. Otivers pushed an agenda more aldn 
to those in the liberal West. 

Against this bra\riing backdrop, huge 
changes CTupted on the streets of Eastern 
Europe. Factories closed 1^ the dozens, 
and a few people got rich. 

Eventually, a rising tide of dissatisfac- 
tion and ambivalence about the changes 
swept non-Communist parties from pow- 
er. Poland became the first of the advrmced 
East European countries to succumb: In 
S^tember 1993, a coalition of ex-Commu- 
nists and a peasant party closely aUied to 
the old r^jme won a inajority in Parlia- 
menL This pattern r^eatM itself in Hun- 
gary last summer and in Slovalda at the 
start of this month. 

Significantly, the ex-Commimists udio 
took power in Poland and Hunga^ have 
not sU^Tped the reforms. Both partes have 
transformed themsdves into social demo- 
cratic parties rince 1989 and support capi- 
talism and democra^. 

The ex-Commimists who have taken 
power in Bulgaria and Romania, and most 
recently in Slovakia, however, are of an- 
other bent Bulgaria's president, Z^yu 
Zhelev, one of the few remaining non- 
Commimists in the government, has be- 
come so exa^erated with the failure of the 
reforms in his country that he routine^ 
calls for “an economic dictator" to push 
Bulgaria into the future. 

Romania’s problems are only slightly 
less severe, and Slovakia recently has given 
an ex-Communist-turned-popuiist, Vladi- 
mir Medar, a chance to execute cam- 
paign pled^ to dismantle privatization. 


power in 1963, his career has 
been defined by confrontation 
with Israd. His is a personal as 
wdl as an ideolo^cal crus^e: 
In 1967. he was defense minis^ 
ter when Syria lost the Golan 
Heights and most of its air force 
to Israeli forces in the Six-Day 
War. 

Since taking power in 1970. 
Mr. Assad has pursued a strate- 
gy of remarkable consistency 
with r^ard to Israel in.sirtng 
that only by maintflimng a unit- 
ed front can Arab states win 
bade thdr lands and curb what 
he sees as Israd’s ej qiansinni<t 
zeal. 

His domestic has been 
marked by represskm, indud- 
ing the imprisonment of thou- 
sands of political Of^Kments 
and, most mfamoudy, the de- 
struction in 1982 of an entire 
diy, Hama, to qudl an uprising 

Muslim radicals. Syria’s mil- 
itaiy dommates pc^tical and 
economic life^ consuming an es- 
timated 50 percMt of public 
spendi^ and controlling many 
Donmifitaiy, public-sector in- 
dustries. 


The larish life-syles and op- 
lent villas of some too offid^ 


ulent villas of some tq> offidds 
have led to widespread com- 
plaints about corruption, al- 
though Mr. Assad bu escaped 
such critidan. He lives mcxl^t- 
ty with his wife of 36 years, 
Anisdi, in a heavily guarded 
compxnmd in downtown Da- 
mascus and is said to have few 
interests outside of work. 

“He lives a very austere life,” 
a diplomat said. “Very focused, 
veiy disdpfined. That’s how he 
always manages to stay a few 
cbess moves ahead of the cniier 
guys.” 

Amoi^ Syrians, Mr. Assad's 
success in cuilnng secterian re- 
ligious rivalries has won him 
respect rf not love. espeda% 
from Alawite and Christian mi- 


ncffities in the majority Sunni 
Muslim country. A Giristian 


3 Neo-Nazis Get 


Suspended Terms 


Agaee Frmee-Preae 

ERFURT, Germany — 
Three neo-Nazis aged ^ to 28 
were given snspended prison 
sentences of 7 to 10 montiis 
Monday for their part in the 
desecration of the former Naa 
coDcentiatioa cainp at Budren- 
wald. 

TWO 19-year-olds, considered 
juveniles, who dissociated 
themselves from the others, 
were given wainmgs. The ^ 
were convicted of bieadi of the 

peace, criminal riamaga anri 

mg slogans or symbols out- 
lawed by the constitution. 


Muslim country. A Christian 
businessman Mr. Assad 
“has given us freedom and a 
safe environmenL Suppresrion 
means safety." 

Divinii^ Mr. Assad’s true in- 
tentions is always risly gi\’en 
(be dosed nature of his r^ime. 
But Western diplomats say they 
beheve Mr. A^ad was sincere 
when be dedared during his 
landmark summit meeting with 
Mr. Clinton in Cieneva in Janu- 
ary that Syria was ready for 
“oormal peaceful rdations" 
with Isr^ provided the Jewish 
state met his demaiuls f(» the 
full return of the Golm and 
adequate securi^ guarantees. 

Pressure has bitilding 
on Mr. Assad to tnakg peace 
with Israd ever ance 1978, 
when the Camp David peace 
accord between Israel and 
E^rpt shattered his dreams of a 
aniTO Arab front 

A d^lomat recallmg Mr. As- 
sad’s ejqrerience as an air force 
pilot likened tire Syrian lead- 
er’s search for an acc^table 
agreement to a “controU^ de- 
scent”: “This thing is running 
out of hid and he’s got to bring 
it in safely." 


CHESS 


By Robert Byme 


V ASIU IVANCHUK beat 
Yevseni Bareyev in Round 


V Yevgeni Bareyev in Round 
4 of the Novgorod Internation- 
al Touruament 
The Classical Variation of 
the Nimzo-Indian Defense, 4 
Qc2, lets White, after 4...d5 5 a3 
BicS 6 Qc3, obtain the advan- 
tage ^ two bishtps and thus 
puts pressure on Black to play 
sharply and a^ressivety. White 
must not be allowed to com- 
plete his development in peace. 

After 9_.Qa5, bloddng the 
check with 10 Bd2 (10 b4? 
Nb4!) leads to endgame superi- 



BARFVEV/WMTE 

Position after 38 BdS 
ority for Black after ia.Nd2 1 1 
Qd2 dc 12 Qa5 Na5 13 Rcl b6 
14 cb ab 15 e3 b5. 


Emphasis , 
On Rights 


JAKARTA — Fresidnit Su- 
harto acknowledged Monday 
that human rights in Indonesia 
needed to be oven more atten- 
tion, but said the efforts were 
part of a “long process.” 

“Efforts to advance and pro- 
mote the protection of human 
i^ts arc not an easy matter 
^ cannot be made in a single 
step.” he said at theopeningrf 
a workshop on human rights. 
“These efforts represent a long 

process.” 

The workshop is jointly 
sponsored by the 25-member 
National Commisdon on Hu- 
man Ri^t^ the Indonesian 
Foreign Mir^tiy and the C^e- 
va-based UN Human Righu; 
Center. 

Mr. Suharto said efforts 
shookl be carried out continu- 
ously and in a sustainable and 
coordinated way. He added: 
“In the process of dex-elopmeni, 
octi^ties whidi result in vkda- 
tions of human rights can h^ 
pen, but those were excesses 
which we have already joinily 
additssed." 

Human xi^ts acthnsts, many 
of whmn were excluded from 
the three-da^ event, played 
down its signiflcaiKe. 

Adnan Buyung Nasutkm, a 
leading human rights cam- 
paigner, said: “This event has 
nomte^QT to discuss human- 
ri^ts issues when the Indone- 
sian L^al Aid Inititute, which 
in the past 24 yeara has served 
as the country a pioneer in hu- 
man li^ts protection, has not 
been invit^” 

H. J. H Princen, director of 
the Institute for Defense of 
Himian Ri^ts, disntia^ the 
session as a public-ielatioos 
ploy before a November visit to 
Indonesia by President Bill 
Ciintom and other Asia-Pacific 




leaders. TbOT win attend the 
Asia-Padfic Brooomic Cooper- 


Asia-Padfic Brooomic Cooper- 
ation forum summit meetix^ at 
B(%or, near Jakarta, on Nov. 

IS. (AFP, Reuters) ^ 




- / \ til 


U.S.Teadha' Quits 
SingfqporePost 
After Questioning 


OmtpSedty Oir From Dapaidta 

SINGAPORE — An Ameri- . 
can sdiolar at the NfUional 
Uniyersity erf Singapore has re- 
agned after being questioned'* 


by TOlice about a newspaj^ 
art^ be wrote, the universty 


article be wrote, the universty • 
said Mcmday. 

Christopher Lingle, who 
tau^t economics, returned to. 
his hometown of Atlanta on. 


Friday after being questioned 
twice last week. 


AC issue was an article by Mr. 
Lingle, 46, published on Oct 7 
in the International Herald Tri- 
bune, that criticized unidenti- 
fied Asian governments and 
thdr judidal systems. 

“Dr. Lin^e bad given (»e 
month’s nonce of his resignar 
don with effect frean last Fri- 
day, and this notice period is io 
accordance with the terms of 
his apptmtmcDt as senior fel- 
low," said Ellice Lim, assistant 
director of the imiversiw’s liai- 
son office. 


Mr. Lingle was granted a 
wedifs compassionate leave last 
Thursday to visit his fathff, 
who is gravely ill It was not 
immediately known if Mr. Un- 
gle would letuni to Singapore 
at the end of his weeklong leave. 
News rqiorts quoted Mr. Lin- 
gle as saying in Atlanta ov^ the 
wedeend that his plans were un- 
clear. ^AP. AFP) 


More than 60 years ago, 
Aron Nlmzovxcfa analyzed Ore 
FStieat with 11 Qdl as letting 
Black play a promisii^ posi- 
tional gambit with ll...Bd7 12 
b4Qa413Ne4Qdl 14Kdl Ba4 
15 Kd2 de 16 Kc3 Nb3 17 Rbl 
Ncl 18 Rcl 0-0-0. Black 
threatens a powerful peoetra- 
tion on the d file wi^ both 
rooks. Bareyev chose the rec- 
ommended 11 Qd3, 

After 1 l...e5! 12 b4 Qa4, Bar- 
eyev stayrt on well-analyzed 
^ound with 13 Ra2 Nd2 14 
Rd2. Here, the recapture with 
14 Qd2 leads to 14...dc 15 e3 

Nb3 16 Qc3 Be6 17 Bo4 Bc4 18 
Qo4 Ncl 19 Qcl a5! with excel- 
lent counterplay for Black. 

After 14 Rd2 Bf5, Bareyev 
veered away from t^ not quite 
satisfactory 15 <3c3 dc with his 
new move, 15 Qe3. But Ivan- 
chuk k^t the blak counterat- 
tack going full blast with 15„.C^ 
O-Of, and after 16 g4. he not 
only refused to spend a tempo 
safeguardmg his bishop but 
also drove in sharplv with 
16...0C2! 

Bar^ could not defend bv 
17 Rdl because ]7...dc' 18 ^ 
Nf3! forces mate. So he had w 
enter into a lost bishop-and- 
pawn4or-rook exuUne mth 17 

Rd4cdl8Qd2Qd2i9B<I2. 


An exchange of rooks anri 
pawns with 30 Rd4 Re2 31 Ke2 
Rd4 would not have saved the 
game, but it was the only way 
for White to resist for a while. 
After 30 Bd6?, Ivanchuk’s 

30.. .Rc3! was the coup-de- 
grfice. Since 31 Rc3 dc will cost 
White material to stop the c3 
pawn, Bareyev desperately 
played 31 f4, but after 

31.. Jld6!, he had to lose a 
and gave up. 


Koao-INPIAN DEFENSE 


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21 cd 
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25 IH 
KRCI 

29 

30 Bda 

31 X* 

3: Roigns 


■VANCHUK/BLACK 


To siAscrtie fai franco 
iusrcan,i«Hft«ar 

05437437 






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Imemational Herald Tribune *. 
Tuesday, October 25, 1994 . 

Page 9 


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I r- ■■••• • 

:SSS The Power of the Pencil 

!v ^^tonio’s Exuberant Work Captured Three Decades 


By Su 2 y Menkes 

Inuntational fferaid Tribune 


c^tured the essence of the an- but be was not a painter wbo 
diogynous 1980s — an-powo*- niustrated fashion, but an artist 


I S IWh-rOfl T^ARIS - Vroom! Off tS?2S!JIS' 

\ .p. I(a(neryi! |lthcygo — Wondehair and oilby hats. 

Ha flying, one giri holding *^Antomo captured the nmeo 

NnUamirePOst A tfiemoion^c bandit anuapatedit— themostimpoi 
* . . bars,theotherclutchmgthepU- t^t thmgs are not the ctothe 

\ firr thiPStiOIlI Uon, mmislorts riding high but the depK^on <rf the tnn^ 
' above clenched thi gh »; aays Palonw Picasso, a friend o 


P 


ful pn^es of couples with 
Identikit fleshy lips, sleek hair 
and oilby hats. 

*'Antcniio captured the time or 
antidpated it ~ t^ most impor- 
tant things are not the dothes. 


V .• .-t:* How did Antonio Lc^iezman- 

iSi'.Xi^'Kr age to ccHXvc^ in one faduon 

• '. ■ .'! N: dnwing . (he joyful, umocent, 

■ . ; ; i '! frco-udiochng so^ freedom 

. ,' \-:r.i.'!!i£ the I960s? Not to mention the 

;• ;..' ..'.vi cTui; dothes: the slipped skumy-nb 
.. ; t »;.'i.M’'.:cr sweaters with fragile shoulders 

and Ixief darts over hot pants? 

'•• •, rhr: bt'v Antonio, as be was known, 

• .- -. -.uks;.^ did not just capture at pendl 

i"! i. .V,- .'{ P®®a* the era of his own youth. 

■,'' Vri.'S'- bi the 1970s, ±e doe-eyed mod- 

'.'■i. ds in Pop Art settings became 
^.,. women in a more complex 
• ■ world, where military uniforms 

suggested death and danger or 
;r ii.;.- : vdiere the bad^round became 

'.' 11 ." ^'-“’'''’ a \(hiil of p^cbedeilic coIot. By 
).... the time death in 1987 at 

....; age 44, Antonio had already 




says Paloma Picasso, a friend of 
the late artist and the spcmsor of 
the Paris recro^>ective of his 
work at the Musie de la Mode et 
du Textile, in the Palais du Lou- 
vre (until Feb. 26). 

Ihe power to move an on- 
locdter emotionally is usually re- 
served for great artists, not 
tbo^ like Antonio, who were 
basically commercial graphic 
artists. Yet his most profound 
woilc — figures in surreal Pop 
Art settings or Amazonian 
wrxnen in athletic stances — 
was done in collaboration with 
fashion editors, especially at 
The New York Times Maga^e 
in the 1960s and with the Italian 
Anna Piaggi at the short-lived 
Vanity magazine in the 1980$. 

^He was a child of Pop Art — 


whose mode of expression was 
fashion iOastTation," says Ka- 
tell Ic Bourhis, the exi^ition's 
curator and author the ac- 
companying book, in conjunc- 
tion with Antonio’s partner, 
Juan Eti^e Ramos. 

Antonio. Puerto Rican-bom 
and broii^t up in Spanidi Har- 
lem, studied at New York’s 
Fashion Institute of Technol- 
ogy in 1961, where he met Ra- 
mos. After working for Wom- 
en’s Wear Daily and The New 
York Times, he was discovered 
by French Elle magazine and 


meat, so that his models seemed 
to be recognizable people. 
Sometimes they were. Fidoma 
Picasso describes posing for 
Antonio for “three full nights 
working aU ni^t” while Anto- 
nio dotted “every feature of 
my face and body” for a series 
of drawings of underwear in 
British Vogue is 1972. 

Kcasso and her husband, Ra- 
phad Lopez Cambil, remember 
Antonio's life-enbandng exu- 




.4 restrospeviive at the fashion museum in Paris dispiays Antonio 's U'prk./rc7;7i the ‘60s to the 'HOs. 


Le Bourhis sees a “more p^- 
chologica] mind'* at work as 


berance, shown in photographs ^fonio got older; a^nse t^t 
when the slight, mustachioed ^things were less fim and that 
figure is surrounded by models. I*® 2®® 
“Hehadthisinerediblequali- eyes. Whmhetocwhe 


ty of being every morning 


moved to Paris in 1970, where alive,” says le Bou^is, who de- 
he became part of fashion’s arty scribes the artist “drawing all 
milieu. On their return to New day l*‘>ng compulsively.” 


Yoric in 1975, they became in- 
volved in the Andy Warhol-Stu- 
dio 54 scene, “inspiring fashion 


Antonio’s drawings do more 


was dying of AIDS, he drew 
with as much urgency, only in 
black ink. But were these ^k 
traits purely personal, or also a 
reflection of despair in sodety 


1960s, when Antonio appears to 
capture figures from floor levd 
upwards, to the powerful, mde- 
sbouJdered silhouettes Yves 
Saint Laurent in 1983. 

At the heart of Antonio’s 
work is an understanding of 
fashion classicism seen in the 
graceful evening dresses by 
Charles James, who became a 


Fashion Collections 
For the Real World 


as much as it haired him” as shows him a keq>er of the flame 
le Bourhis puts it. Wearing atb- of fashion illustration in an era 
letic clothes before they became when photography ha* been the 
1980$ s^le, proved tliat Anto- overriding visual The 

nio was a fa^on catalysL tradition was ke p t alive in the 

Y ct h* «Tb« 1940s and 1950s by the dccora- 

drawings of Christian B6r- 
aid and Rtee Gruau’s stylized 
illusirations in haute couture's 

r«rt4ml,r^SiSS^ hcyday. Bui h was further back 

pamcular pKn^anc^ ^ ^ 1 ^ century 

There is a D^ Chevaux — when Paul Iribe and Georges 
the 1960s equivaleot of the put fashionable figures 

beach buggy — filled wth a imo a predse contexL 
gaggle of young hekmg « that time, the ideal wom- 

iM cream and c utchmg 1^ of fasl^ ^ the prisoner 


thaT rnimrinaS SrSfe ^d « the shadows 1^^ from 
limes. The exhibition also the optimisuc 1960s? 


trails purely personal, or aiso a Charles James, who became a 
reflaiira of d^air in ^eiy close friend, as did Karl Lager- 
« the stadowsl^thcned from feid. Airesiiiig Lagerfeld im- 
the optunisuc 1960s? ages indudellss losses with 

The exhibition should be visit- sequins pouring from embroi- 
ed for its vivid recc^ of dtong- dered faucets and shower 
ing fashions: the long-legged heads. The image is unsettling. 


strange, sexually ambivalent — 
in tune with the 1980s. 

The underl^g theme of An- 
tonio’s work is dways human- 
ity, which is why the show is as 
sigjiiflcaat for a new generation 
as for those who liv^ thrwgh 
Antonio’s 30 wooing years. 

“I felt tears come up to my 
eyes more than once,” says Pi- 
casso. “For all of us who were 
there, there are personal things 
not rdated to wlut is on the 
walls. But young people also un- 
derstand it. There is some thing 
so invigorating about the show.” 


NEW FALL WINTER 
COLLECTION ; 

ESCAIM 

In Paris 

Marie-Maitine 

8, rue de Sevres, 

Paris eth 


Y 


II EDUCATION DIRECTORY 



iiimunoiUL 


1 


cm)' 


la ASP' 

lb* 

i 

Iki- ‘ 

Iw iw 


/ntemational fteraU Tribune 

P ARIS — What could Celine’s fashion spectacular — 
with multime^a stage set and “Salonm” danced by 
Patrick Dupond — possibly have in common with the 
dainty show in sweet rococo colors sent out by Inte de 
laFressange? 

Mcne than you mi^t *>>«nic. For the shows that closed the 
French sprin^summer season were about the real world, 
^riiere the pantsuit and the dress became the pivotal items of 
the modem wardrobe. For that meant pantsuits or 

dresses with jackets — practical ways of career dressing and a 
neat way of showing off purse and travd bag accessories. At 
ni^t, btf ore DiqTood letq^ center stage, pants wm dressed 
up ^th gauzy shirts, w dresses came long and slinky. 

' A| thftiigh always cTaims that she is not the role model 
for her line, h is inmosable not to see de la Fressange herself 
in whftt she flowed: deck pantsuits with hat brims curiing 
tmwards, or an artist’s smock of a shirt with a floppy bow at 
the neck. Without irmiring fashion forays into the niture, the 
rilow bad a quirky freshness, with its use of white pique, 
gin gimwi^ aod-swect sugarcd almond colors. In the 

cuirent mood were there pastels and the use of shiny fabrics 
like ^rereA liwm and satin. The basic look was dressed up with 
flashes of wit, inrfnding a daisy-petal hat, matelot shorts and 
a T-shirt with a baby's bottle proclaiming the designer’s new 
status as mother erf a baby daughter. 

Suzy Menkes 


gaggle of yot^woi^hcking “At that time, the ideal wom- 
creain and c utchmg of fasl^ ^ the prisoner 

balls, pulling off je^ and sa- ofan elitist situation— ±e gar- 
s’**®* tl® J®3[*S **?**• den, the theater, the opera - it 

trom betnnd tnor sbades, they ^ artifidaL” says le Bourhis. 
express a sense of f^om,.es- “Antonio captured the life and 
caM and accent jmcdcvivre styleofyouihandof tbestreeu” 
reddait of thm swmgmg ei^ Significantly, Antonio 
In the earfaer years, refw- s ee m ed to bring as much energy 
ences ?/ere sometimes specifi- and imagination to advertising 
cally artistic, an Op Art back- commissions, like work for Mis- 
gound to a 1966 illustration for soniintheearly l9S0s.ashedid 
The New York ’Hms Maga- to the avant-garde Vani^ at the 
zme, when a woman in a brief aami* period. So here was a 
mini dress with flying scarf punk-haired Missoni-clad fig- 
seems to dragged in a jet u^ clutching a bust of herself 
stream of dots. lijje g severed head; and there 

The role of Ramos was to surreal Vanity drawings in 
concq>tuaIizB the context and u^ch a woman artist is stab- 
to envis^ the figures in the bing her paintbrush through a 
appropriate landscape. Antonio canvas to spear the torso of a | 
focused on character and move- naked male. 


mi 

igi iK-ilN 
I.S r » 
\* 


S»- if 
,, 1' ■ . ■> I 


W IpaOlATVN-V-tH— 








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INTERNATIONAL HERALD TRIBIJNE. TUESDAY, OCTOBER 25. 1994 


NASDAQ 

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IV AIGMWIebmney Bd Fd Pies 
w AIG Seem EOSt Asia Fd__A 
d HWi LNt Fwiil .Sew 

d UU BBroOHltmbsr Fwid.Ecu 

tfUBZUMWirv Funds I 

dUBZUquMByFwMDM DM 

d UBZ UqoMhr Fund Ea...Eeu 
d UBZ LMuHItv Fund SF_^F 
ALFKEOURG 
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d For End S 

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ABN AMRO Fundi 
4 rau Juan Msomti Lira. )9Bd24MMiil 
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317,15 

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M Por^aVnit RG hamlllan. HM 1 I Barmuda 
wAiMioAsioHedietOdnu nsj9 

aiAMMEvaPlFtf<AuB31)_Ea 30,13 

nAipliaFuiiniFd(Mp3ei,,A aiSA 4 

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fflAlsiMGiehalFdCAunSlI^ 101110 

AAMuHdSRiaAOcpaiLJS 431,13 

mAMoHOoFdaB/ScpNLJS WW 

ffiANhoHduPdac/stpau leojs 

olAISlMLOIInAmrlAlioSDA SNJS 

mAMnFoencFdlSspM)^ 3*147 

mAWloSAM. , ,,* 12154 

rnAWnShurtFdlSepSN-^ 6&«0 

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fllAMuTIHdMeFdlSoaiDI-A 17125 

fflABMWortnHamtsepsns hub 

ivBca/Ak«nciHodnAw3n itj 2 

wBCO/AlstaMktNtnStplOS Mil* 

oBadhAlpnaEurHdoAuuaiBa 15117 

fnCramlAslanHedMSopSBS 11035 

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m Ud hi wt Value tSop 30) — S 13US 

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AMSTEL (ASIA3 LTD TM: «IH3S 1753 
ivSoriiMr Jam small Co 1 ^ 1037 

fflT 1 iii 8 ttmmirFd 1 .-^Y Mnsin 

ABISTA CAPITAL GROWTH FUND LTD 
antdl 41*14311530 

IV Rnuhillan S T 5J4 

ANRAL ASSOCIATES LTD 
Mr Ami Amerlcaa OuenI Fd^ 
nr Arnd ANon Pund— ____A 



1410 

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IV Altai GlobolFd s tIJ* 

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inHilinnnrl(otFund_., s 54531 

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d BBL P idili ii u iital "<u ‘ g 

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BANOUR BILGE ASSET MOMT FUND 
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4I9J3 

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nr Asia Pedflc RooNo Pd. 
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BANQUE INDOSUEZ 
nrDio Oroion FbodSOeov..^ 
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m Dual Futurm Pd Cl C UnilsA 
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ahtaxIrnD Put fta for. I a BS 
a MtaxMio Pvt fd la. 3 a C S 
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a iodosuB Corr. a A Unlts_S 
M IMDOUK Curr. a B UtiIts.-5 
irlPWA-3.... ...... .....i 

d ISA Alloa CranraiFiind_S 
d iSAJamRm.cnwmFa.Y 
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101511 

122320 

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3100 

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470452 

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loss 


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BAHOUE SCANDIMAVE EN SUISSE<GENBVA 
« 7231 

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rSwlislindCM_-..-^P 14954 

EANQUE SCS ALUANCR^REDIT BANC- 
|4UDSM>Un,G«tam 

ivPlotadoNwlbAiiiEaunissA 10104 

nr Plotado Euroao BduHiw , Pni 12003 

ivPiitadoAstaPadKBa_s 9730 

urPtetadeEnv Iiu n Bi intEt— S HD 

wFtatadsOoHM Bowls S 9731 

wPlotadt ECU Bondi ■■ . . Fra 10552 

w Plotado FF Bonds. ■ ,.■ — .FF 10SM 

wPtotadoBonCenvBaiids_5F 0*30 

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MrFModoBCuneiervo Ecu 10531 . 

wPlilodoSFneoorvn SF MOJO 

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BARCLAYS INTI FUND MANAGENS 
HanaKana,T«:IIS2lt251900 _ 

rffHlM/aovi 0 1371 

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11422 
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14157 
28305 
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35201 

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tSIB RECOMIIZBOJ 

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ivHIOilYloldBnBd,- S 092 

wwwrtdBcndFPll-.--— FF _54n 
BARING MTU PD MHGItS (IRELAND) LTD 
(NON SIB RECOGNIZED) 

— * 



dsoatfi East Asia 


wJmmiTKhnalDBy 
nr Jmn Fund .. 

rajomiloivGooefntlon 9 
w Motomo S 5lnaaaere_^ 
nr North Amerla 
vOaeuusmnd. 
urPodflemuid. 
raiMoniational I 
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nr TTfsiiH' Warrant. 


wGlabal Eawthw Mkts_^ 
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w CurroMy Fund Mamed —3 
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BCL CURRENCY FUND 



BDD GROUP OF FUNDS 
«r BDD USSCmn PiHld_-^ 

nrDODBmCMhFi ad - gf u 

wBDPSwlM Franc Cosh. . SP 

nr BDD tal. Bond FiiadUSS_-S 
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— "**“nr'=- 

m BDO Entirulnn Mkta Fd 
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INTER CASH 

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t DM 


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r laorCoNiEai. 

I lidarCoNiGBP. 
t niter Ccuh USD. 

I lidarCBdtVen 

INTERMULTI INVESTMENT 
nr PrivoHsDtIm HM immsi ^ 
irTeliromlniiiiil 
INTERWTIMUM 
irlntirtiwirt^rsn *_ 

nr BEF/LUF . BF 


ivMullMevtaoiDM. 
USD. 


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w France,. 

nrEurooeduNord^ 
Hr SeraM du Contro- 
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3133 

13753 

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4430 

11636 

1113 

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3333 

1632 

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5353 

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51536 

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1006637 

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165170 

1330134 

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1850196 
13W31 
272236 
09734 
I 16114 
IS9529 
108234 
351C 


d FInnsec Globol FM A (Ohr) FM 211180 

i PIW WncClobnlFMBICaPlFM 2143344 

d intetaond frPa laiui- ee 
d InMbondPRPBiCoai— .-FF usjsso 

d Far Bost uso a (div) s 273473 

d For Eosl USDS (Cep) _3 273870 

dJomjFYAIDIv) Y 1099.1764 

d JomJPYBiCoe) Y io**.1764 

d FmocFRFBtCBP)..,— FF D33S47 

dLannAmoriCDUSDACOIvIS 359580 

d LattnAmericaUSDEtCmlS 263588 

d NorthAmerleeUSOAtDIvIS 163347 

d Nth America USD BtCmu 11*347 

d AmIb USB A ftMirt _ < lunoi 

dAetaUSDBICaM_— 8 103701 

dyvbridUSOAlDlv)— ^_s iai845 

d World USOBiCoei—^ 11184 

BUCHANAN FUND UMITED 
cGBonRaBennudoLM! {00*12*84800 
I GiobniModeeilsn ..s 1134 

/ GtabolHoMeCBP t 1431 

r GtabetCHIT- —OF 1439 

r giinwMWAAatliMtIr c Ijjg 

t - « IIN 

f Emaraina Mdriiots— ^ 3SA4 

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d PrueHhn>0lil.Fse5A FF S4SD31 

d FructHux • ObL Euro B_Ecu 1508JB 

HrFnierHuic-ABtonsFicsC_FF moAl 

d FruerUux-AcileneEuroD.Ecu 17SU4 

d Fruelliuic- Court TornitE..FF 04155 

d FnKmux>DMMlcF__BM 10*954 

CALLANDER 
wColicnderEnier.Grawni— 3 13U8 

nr Callender e.a«t < IMM 

ivColtanaorPwwsirlan^— JLS 11*032 

ivCollanoer P4pani5n..^_Pte 
■vCaltander F-USHeoWi Caros 
nr Cenonder Swtae Grewih— 5P 
CAMPBELL (BERMUDA) LTD 
■vGtal tneHlvHenal (31 001-3 
CANADIAN INTERNATfONAL GROUP 
d Cl Conodton Cmrhi Fd— CS 
d Cl Nwtti Amerfeen Fd a 
d Cl PacHle Fund-— CS 
d Cl Global Fund— CS 


d Cl Emora MorMs Fd. 
d Cl Eurapoon Fond- 


d CanadoGMr.Morigaoo FdCS 
CAPITAL INTERNATIONAL 
nr Capital inti Fund— —S 
nrCopltailtailaSA- 


COC INTERNATfONAL 
nr CEP Court Tormt— — FF 
nrGFI LemTofine.^— FP 

CHEMICAL IREIAMD FD ADM LTD 
153-I55D4S3 

m Kotwliacenlarv Imrt— JS 
nr Ttio Yellow Sooinvt Co— 3 
ONDAM BRAZIL FUND 
d CtadORi Eamiy FunO— S 
d CMom Boloneed Rod— S 
OTIBAHK (LUXEMBOURG) lA. 
FOB 1373 LunfnhOUfB TeL477 95 7) 
d aibwal (Nebol Bond^— s 
dCBImtstPGPUSO 5 


140 

in 

1144 

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109 

SJ4 

1836 

13736 

4168 

1790*113 

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IU1 

1137 


1615063 

1219302 


d CItInvtN FCP ECU— ^Ecu 
d Cltlnvesl Seledor— s 
d arfeunendM USO— ,3 
d CmewrindosPEM— DM 
d CttleurrMdesGBP— c 
d atlcurrendosYon— Y 

dOltaortNJLEouitv I 

d CUtaort ConL Eora Equitv-Bcu 
d atiperl UK EwW— £ 

d ClUport Prteeh Eaulty FF 

d CHIport GarRicM Eauliy^— DM 
d Gllpert Jam Equity— .Y 

d rBtMvttAper- « 

d atipert Eomee. ■ 3 

d Otiport itA. s Bend — S 
d atieort Euro Bend. 


d ManoaedCurrwKy Fund— 8 
d Irada Pocuc Furtd-^-i— 8 
CITIBANK (PARIS) SJL 21/117*4 

dCm*6CopGtd S 

d OH Gid Asian Mkta Fd—S 

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wUSSBendS— — s 
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COMOESr (3S4 > 44 70 7S » 

/ CF.E.LaaBFwul ,.S 

w Ceowesl Asio_— — .8 
wCemoeWI 
CONCEPT FUND 
b WAM Global HecbuFd—s 

0 WAM iml Bd HOdOO Fd 8 

CONCERTO UMITED 
nr HAV 14 Od 1*84— 8 
COWEN AHET MANAGEMENT 
Com Entamlso Fund N.V. 
nr Class A Shs— s 
wOoBEShs. 


CEEDIS INVESTMENT FUNDS 
d CS Perfl IncOMA— DM 
d CS PerM IKDM B— DM 

d CS Pertf IK (Llro) A/B Ul 

dCSPertfiKSPRA SF 

JF 


dCSPortfiKSFRB. 
d CS Portf Ik USS A—— j 
d CS Pom IK usf B— S 

dCSPorWBolPM -.DM 

d CS Perti Bel tUrt) AA— Ut 
d CS PorH sa SFR IF 

d CS PorN Bol USS— -S 

dCSPerttGrawmOM DM 

d CS PorN Gre (Lire) A/B— Lit 

dCS PorN Gnwm SFR SF 

d CS PorN Growhi USS— S 
d CS Money Mwiwl Fd BEP .BP 
d CS Money Molcfl Pd Cl— CS 
d CS Atanay McoKot Fd DM-DM 
d CS Money MorkMFdFF—FF 
d CS Money Morwt Pd Eu_Ecu 
d CS Money MorkilFd HPI-FI 
d CS MWWy MOTMI Fd Lit— LH 
d CS Mwwy MorMI Fd Pta— Plat 
d CS AWMVMOricOt Pd 8F_SF 
d CS Money Morhot Fd S— 3 
d CS Monav Moricot Fd Yon-.Y 
d CS Money Market Fd C—i 
d Credb Ea Fd Emerfl MHs-S 
d Crudta Eq Pd Lot Amor — 8 
d Cndli Eq Fd Small Cop EurDM 
d Credb Ea Fd SdKril Cap GcrtMM 
d OnedtaEq Pd Small Cep JopY 
d Orodb Bn Fd Smoll Qm 

USA J 

dCrecUKoreoRiML. 


47. CredteSroEMNdCop SwtBISF 

dCracmsiilneFdimil SF 

d CS Eora Bkw CMM A — DM 

dCSEuraBtaeChtaeB DM 

d CS France FuK A . , FF 


d CS Franco Fund B. 
d CS Gonwen Fund A . 


-FF 

.DM 


d CS Oonnpnr Fund B - , DM 
d CS COM AWta* A— S 

dCSGotaMfcNoB 8 

dCSGoWVolDr. 


d CS HtapoK thorld Fd A — Flu 
d CS Hlraeno ibtrio Fd B -_Fta 

d CS Italy FtndA Lit 

dCS Italy Fond B. Id 

d CS Jam Meu u i mn d SFR-SF 
d CS JemMcdohaid YWi_Y 
d CS Nethorionoi Fd A— FL 

d CS Nelbertands Fd B FL 

d CS NorthAmerieon A— J 
d CS NorthAmerkan B— s 

tf CS Ooka.pralK A — DM 
tf CS Oeko.protee B — — DM 
tf CS Tisor Find— J 
d eSUK Fund A 1 


dCSUKFuidB. 
d Enanrte-VUor. 
d EuroeavaDT. 
dPocHIc. Voter, 
d S d iwo ho r ek Uon. 


d Bond vaorD* Mark— ^>M 
d BendVMorSwl— — -SF 
d BoK Valor US • Dottar-^J 
d BendVBterVon.— . .Y 
d BoK Valor tStarltau— . .r 
d ConvortvaiorSwt.... SF 
d CoRuerl Volar u$.Dellar.j 
d CMverl valor cstorlloe— £ 
d Oredil Swioe Fds Bde— SF 
d Credb BoK Fd AMS A— AS 
d Credb Brad Fd AuiS B_AS 
d Orcdli BOM Fd Cons A CS 

d Credle Bond Fd Cons B —CS 

d CldBsBonCFdDMA— DM 
d OKb BoK Fd DM B— DM 
d Cradls Bend Fd FF A->— ^ 
d Credls BoK Fd FF B— FF 
d CradN BoK Fd Uro A/B — Lit 
d CradtaBoKFdPeaeloiA/BPIas 
d Ciedfe BoK Fd USSA— ^ 

d Credls BoK Fd USS B S 

d Cradta BoK Fd Yen A— Y 
d Credls BoK Fd Yon B—Y 
d Oetfs BoK Fd L A. 


d CredtsBoKFdtB— 
d CS Capital DM lIPZ- 
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dCSCecItai Ecu 3808. 
dCS Capital FFSDO^ 


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d CS CCPlM SFR 3100— —SF 
d CS Ecu BoK A— EGO 
d CS ECO BoK B, ■ Pni 

d CS Europo BoKA— — DM 
d CS Suren BoK B DM 

d CS FlxK I DM 8% 1/96— DM 
d CS Find I Eai03/4Kiy9i.SGU 
d a FMd I SF 74 t/M— ^ 

dCSFFBoKA— ^ 

dCSFFBeKB— . ■ ..FF 


d CS Gulden BoK A. 
dCS Gulden BoK B. 
dCSPrimoBoKA. 
dCSPrimoBoKB- 
d CS Start.T. BoK DM A— DM 
d CS Shai1.T. BeK DM B— DM 
d CS Sheri .T. BoK S A — -3 

d CS Shen-T. Bon^ B . . . .3 
d CS Swiss Fr« BoK A—^ 
d CS Swiss FroK BoK B— _$F 
d CS Burereol ■ — 

CREDIT A 6 RICOLE 
INDEXIS ^ 

d lodeeb USA/S&P^SOO— J 
d indeMsJenon/NtaMl— Y 

d Indoxis 6 Brel/FM-— .£ . 
d indexis Fmce/CAC«— FF 

d indexIsCT— — FF 

MONAXIS 

d Cowl Tormo USB 3 

d Court Tormo DEM.. ■ DM 

d Court Tormo JFY Y 

dCeuriTOrineGBP ■£ 

d Court Tonne FRF FF 

d Court TOrmo ESP— — Pta 

d Curt Tonne ECU — . E cu 

MOSAIS ^ 

d AdiOM Inn Dfvorelflaes— PF 

d Action* NofdAmorieoliiesJ 

d Actions JopoKlso s . Y 

d AeltonaAnelole M— ■ . r 
tf Adlons Atliimendn PM 

tf Acilens Franeo taOi --.. FF 
tf Adlons Era. 1 Pert Pta 

d Action ItaHemes--- U 

d Adtons Boeoln PocHtaue— S 
d OMIs mn Divorsitiofs .— ff 
tf OhBs NerdAmertalnos.— s 
tf obUeJoooKltet. Y 

d ObItaAfietabas. 


-FF 


9115 

13)535 

132155 

MBU* 

165731 

14474 

15531 

1245330 

23742 

77155 

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13n43 

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452030 

22172 

20191 

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14519 

14435 

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965120 

970*30 

253302110 

1125200 

1174400 

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1111152 

10430 

135732 

121181 

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1051*5 

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lOWM 

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9143S7JI0 

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snsloo 

133542 

171331 

530195 

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I2BB7740 

58*633 

102147 

14610240 

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INTERNATIONAL FUNDS 


Oct 24, 1984 


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d SBC BOK PHI-ECU A , , Foi 

d SBC BeK PHl-Ecu B Eai 

d SBC BoK PHLFF A— FF 
d SBC BeK PHI-FF B _— FF 

dSBCBaKPHI-PtasA/B PhB 

d SBC BoK Ptfl-SlerllK A — £ 
d SBC BeK Ptfl-StmiK B .4 
d SBC BoK PertleBoGP A— SF 

d SBCBoKPaifHtaSFB— SF 
d SBC BoK PtII-UU A— S 
d SBC BOK PtH-UK B— 8 
d SBC BoK PIB-Ycn A— .Y 
d SBC BoK PMI-Ym 8 — Y 
d 5BC6666F.A9 , , Ai 


dSBC666IF-BFR. 
d SBC M66F- Caus- 


es 


d SBC DM Shorf-Torm A .DM 
d SK DM Sberi-Tcrm B—JM6 
d SBCMMF-DUlChG— PI 
tf SBC MMP • ECO— Ecu 


dSBC66MP-EM. 
dSBC66MF-PF- 
d SBC6666F-Ut— 
d SBC66MF-Ples. 
d SBCiMMF-SdIlinK. 
tf SBC MiKP • : 
tf SBCMMF-SF. 
tf SBC 666AF • US • Dator . 
tf SBCMII6F-USWII— . 
tf SBC6666F-Yen. 


.Esc 

4F 


d SBC CM-PHI SF 
tf SBC GIW-PHl EOI Crlh— Ew 

dSBCGIU-PHIUSDGrih S 

tf SBC GIM-Ptfl SP YH A 
dSSCGIbItpIRSFYId' 
dsac0a-ptii EatYM 
d SBC GIbhPIfl EGU YU 8— E« 
tf SBCGiU-PNI USOYIdA_4 

ri SBC GlbkPtn USD YId B 5 

dSBCGUftPMSP IkA— SP 
d SBC «bl-PHI SP lw B— SF 
tf SBC GllftPm Ecu IK A_CCU 

d SBC GW-Ptfl Ecu IK B Ecu 

d SBCGU-PIfl USO IKA— S 
d SBC GIM-PIfl USD Ik B_4 
tf SBC GRM PlfltOM 6rewih_DM 
d SBC GIH PtfhOM YH B— DM 
tf SBC QfU PKMM6 IK B —DM 
tf SBC OBlItPNI DM Bal A04)M 
tf SBC GEil-Pifl Eai BU A/fi4c» 
tf SBC CM-PKI SPR BH A/BftF 
tf SBC GlU-Ptfl US Ba A/B4 
tf SBC EfflorglK 6larketi_4 
tf SBCSmai&6AMCaHSH4P 
tf SBC Na, RoiOuKfl USS— 
tf SBC Dvn Pieer CMF 9S_— SP 
tf SBCDynPioorusOfS 
d AmertcaVator 
dAoUsVelor 
d AiloPerltaio. ..... S 


tf Convert BeK Sriadion. 
d DWtarl BoK SHeatan — 4)M 
tf Doltar BoK Mtaotan _—S 
d Ecu BeK Sotadton Feu 

d FierUiBeKSeuaian_.4l 

d FroKgwBtar. FF 

d Cermonloivolor ....... . D M 

d GeWerifeiie— — A 


510 
1573 
1852 
120 
6131 
387 
11129 
1020 
171 
148471 

16610 

2050 

2340 

100 

3870 

10210 

*9.17 

1)80 

10251 

12136 

1560 

ITUS 

104 

1787* 

I04I7 

1370 

SMI 

5570 

93010 

00 

00 

10510 

137449 

9121 

100 

1046000 

1144050 

440139 

1146000 

460)0 

I048A4 

U5143 

miJ7 

38560 

4771410 

2Sa81M 

ccrMMiix 

37S7310 

336n0 

2010 

660072 

736143 

21290 

6821740 

111X19 

1S37.)9 

11810 

160154 

11570 

11310 

13850 

101813 

118163 

101X68 

1QBM8 

10530 

113778 

657.10 

11)3477 

10210 

10190 

^ma 

9910 

0in 

9770 

100538 

131173 

5830 

4640 

99X0 

*950 

346J2 

21856 

74456 

*117 

11476 

13145 

10)51 

1190 

184174 

4*1)5 

41134 


d iberiovaler— .Pta 538240 
tf ItwtUwlf IH 43422)0 

340160 
11270 
10*7* 
52175 
760 
100 

1174U0 

TEMPLETON (H0EAL STRATEGY SICAV 


tf 

tf Sieniw BmSete(Mn^_c 
d Sw. Faoton Bato KleaionAF 
d Swbavoler— — SP 
tf UHverKl BoK0lodton_AF 

ft Biia «s 

tf YanB^SdacHen. 


dOloKIGrawmaA. 
d 0eba Crewth Cl * * 

d DMGiebacrewin_^_DM 
tf Snwitar Cenwenlci a A— 7 
d Smollor Cemmtas Cl B— 7 
tf iBlrear.ftCeauMtnieotlon.A 
tf Pnwwiwriam Cl A— — s 
tf FahAiMrlcan Cl B— — S 
d e-— «— TF 

d Fv Eoa^— — S 
tf OiIk Gateway — _—s 
d EmorgMOMorlttlsaA— s 
d Emereine Mort i eb Cl B— .i 
d Globa Uimttai— — A 
tf ClebaConvertMe^_— 8 
tf CMba BotancK— A 
d Globa Incsmt Cl A. 
d Gtatai ineomi a B. 
tf DMGtaoa BeK. 


.DM 


d YcnCleeaBeK. 

d EiiwroNAt6FlxlKaA_J6 
d BinargMktaF(xiKaB_$ 

d ue rj«- mi wwit , 

d H"— «e 

d uttUmildRisavo. 


1173 

100 

120 

120 

1113 

9.»1 

nsz 

1071 

1117 

140 

90 

170 

110 

*0 

1076 

110 

1173 

1076 

100 

9*10 

11.98 

1132 

90 

IBTS 

HUB 

110 


d OEM UauW im 

TEMPI0TOH WJWIDE IHVESTMEMTS 
GROWTH PORTFOLIO 

« 1177 

d CtassAd — 1112 

tfCtasA4 S UJB 

dCles6B-t_— A 1376 

■* *-'* « 1751 


INCOME PORTFOLIO 
d OOHA, 
d CIobB. 


THORNTON INVESTMENT MOMT LTD 
0 Oveen StrLondM EC4R 1AX on 216 300 


Ml 

90 


d PeeiiinvtFtfSAi 
tf PbCH ma Fd SA DIM— £)M 
tf EosternCnaoderFuK— .8 
d Trwr. LWi Droeone Pd Ud J 
d Thernten Orlwii Ik Fd Ud 8 
d ThonitM Tiger Fd Ud— i 
d MoHoo tA SaegMoB .... ■i 

tf Kwyf * 

NEWTIGER SEU FUND 

dHOKKoK 8 

d r~ - * 

r lCefK_-. ■ ... -8 

d Phiiippinw ■ ■■ 9 

tf ThaidK— .— — 8 
tf « 

tf Ittooncild— . .- ... I 
tf UU Uoutaltv— — _A 
tf Oilno. 


d slnsopore^^^^^^^^^^^^^S 
THORNTON TAIWAN FUNO 
d EOUltV « 

d EquhvCMh— I 
tf Ltauldllv— — 8 


UEBERSBBBANKM0 
d B-FuK— — 
d E - FuK— — ... 
d J - FuK___— 
tf M-FuK- 


.AF 


.AP 


.SF 


tf UBZ Euro-mceiM FuK— SF 
d UBZ World immo FuK _Ecu 
d UBZ Gold FWW—-S 
tf UBZNIsmCmvtrt— SF 
tf Alta Crewth Convert S P R _SF 
tf Asia Grewlh Convert US8_8 
tf UBZDM-BcmFuK— DM 
tf UBZD-FUK— — DM 
d UBZ Swbi Eouhy Fund— SF 
d UBZAmerlem Eo FuK— s 
tf UBZ S- BoK FuK— S 
tf UBZseaheoaAsioftf— s 
fflUBZ DlvonlltaOSlrDtasA A 
mllBZ OlvarsIBK Straits BJ 
UNiOH BANCAIRE asset MOT (UBAM) 
INTBRNATIONAU NASSAU 
w Ardtiinvoa— — 0 

..xrmli— N - « 


14)1 

3476 

140 

4UI 

310 

570 

230 

140 

1877 

51.12 

17.70 

90 

810 

360 

310 

176 

MTS 

170 

210 

1131 

1157 

1M0 

l)i4SI 

5074 

3580 

118576 

1125 

510 

13M1 

116178 

11010 

11640 

10077 

9*0 

1080 

930 

*102 

1820 

1MU2 

18031 


wBoGofln. 


w D ttiUnvoa. 

wBnielnvga. 

wDUiiaoros. 

ivDInvea. 


wDInvest Astai 
w Dtaveto GoWftNelab— A 

irfii h ii ■ H mdiii — « 

tvDInvea inti Fix iKStrat— 8 
wjoginvia. . . . S 
— « 

wMoninvoa. -■ — — --- * 
n * 

wMourinvea Comlngtad^— 8 
lyMourtavest Ecu , ...Eoi 
wPutaor,. ■ % 

nr Pubor Overty.— — A 
* 

wQuoKovta •* * 

wStaliikwta ■ .. .... i 
wTKIm 


wunlnvcM. 


3401661 
9*101 
10710 z 
1278f3z 
1I68MZ 
insioz 
2ao0z 
10*06 
9*8511 
968311 
I5I74Z 
I9(1S6Z 
97201 
127U6Z 
34*101 
905511 
1591322 
1140741 
170101 
248801 
136859 2 
1801201 
180712 
628412 


UNION BANCAIRE ASSET MGT (UBAM) 
INTERNATIONAL, LUXEMBOURG 


ivUBAMSBeK. 

W UBAM DEM BoK— —DM 
w UBAM Emoretoe Grewth_8 
W UBAM FRF BeK— FF 
w UBAM Cermanv — DM 
W UBAM GMOa BoK— Ecu 
Hr UBAM Jam— — Y 
w UBAM Startkig Bond— 1 


W UBAM Sin Podf ft Alto 
w UBAM US EauWn ^ 

UNION auUIKOF SWI1ZERLAND/INTRAG 


11002 

113202 

I0S»2 

S46I74Z 
106*0 2 
1441312 
922102 
9n0 
217.112 
115302 


tf AmcD. 


tf BoKlmea. 
tf Br)t-mvi9t_ 
tf Conoc- 


JSP 


tf Convort-invea. 
d DMorfc-invoa. 
0 Donor-lnyea— 
tf enoKo-invea. 
d Fmwr. 


J5P 


-SF 


tf Fonu— 

tf Franclt— ■ 
tf GermK_ ... 
tf GMWivesr— 
tf Goid-Invsa— 
tf (SuUtan-inwea. 
d Helvainvea— 
tf HMloK-imrea. 
0 HOC. 


JIF 

JIP 

-SF 


.AP 


-SP 


J5F 


.AP 


tf JaMa4nwea_ 
tf Poelfle-invea. 
tf Sofll. 


AP 


tf Skondlniytan-mvea. 
tf Slarflno-mvea_^ 
tf Swim Franc-lM«a_ 

tf Swta 


SF 

AP 


AP 


tf UBS Amerin LMtao. 
tf UBS America LaHw— A 
tf UBS Alta New Herinn—SF 
tf UBS Asia New Her1zan—_A 
tf UBS Small C Eurepe, , SF 
0 UBS Sotall a Eorone— DM 
tf UBS Pen Inv SFR Ik— ^F 
tf UBS Pert Inv SPR Con C— SF 
tf UBS Peri Inv Ecu Ine— _AF 
0 UBS Port Inv Ecu Ik— E cu 
tf UBS Pert mv Eoi Cop 6_SF 
tf UBS Pert Inv Eoi Cop G— Ecu 
d UBS Port Inv U0 IK— S 
tf UBS Port Inv U0 Ik— SF 
tf UlSPaft(mUSlGraG_AF 
tf UBS Pert Inv U0 Cop G_A 
tf UBS Pen Inv DM Ine— SP 
tf UBS Pen Inv DM Ine— DM 
tf UBS Pen mvDMCopG— SP 
tf UBS Pan Inv DM Cop (3— DM 
tf UBS Pert Inv Ul IK— SF 
tf UBS Port Inv Ul Ik— —L it 
tf UBSPorilnvUtCopG— SF 
tf UBS Pori Inv Ul Cop 6— LH 
tf UBS Portlnv PP «»• ge 
tf UBS Pen Ulv FF eg 

0 UBS Port mv PP Coe 6 SF 

tf UBS Peri inv PF Cra G— FF 
0 Yon-lovea 
d UBSMMlnvKMJSi. 
d UBSMMinvea-£0_ 
dUBSMMinvesNEeu- 


410 V, 
5518V 
11509 
710V 
009 
ra0v 

1D40y 

12:3;; 

3S50V 
2fl0v 
1570 V 
22MEV 
1050V 
2280V 
58109 
18L0V 
3120V 
nUBv 
M0V 
44IUDV 
5310 V 
E580V 
TM57V 
IflTOv 
3360 
1930 
11X09 
98789 
**09 
TMIv 
910V 
1110V 
1)B0V 
1009 
940y 
5909 
t80V 
61f6V 
745* V 
HLlSy 
f40v 
7U4V 
fZMV 

ii 10 y 

930y 
11109 
*S0y 
11777709 
*515 V 
1169710 V 
*70 V 
401709 
*70 y 
4IS.I0V 


d UBS MM invcst-Ycn— 
tf UBS MM UnesKH— 
tf UBS MM invoa-SFR A. 
tf UBS MM mvesMFR T_ 
tf UBSHMinvest-FF— 
tf UBSMMinveSMIPL— 
tf UBS MM invest-CDnS_ 
tf UBS MM inveaAFR— 


tf UBS BoK Inv-Eoi A. 
tf UBS Bvid InvEeu T. 
d UBSB0Klnv-SFR_ 

d UBS BoK InwOM 

d UBS BoK lnwUSU_ 
d UBS BoK Inv-FF— 
tf UBSBeKInvCMl. 
tf UBS BoM InvUI. 


.Y 

•49*10 V 


1019,17 

a 

41L59 

dEcu 

me 71 

.Y 

1017770 

IH 

M747D30 

AF 

SI720 

.IP 

5691M 

FF 

5930 

PI 

lg(50 

.CO 

104271 

IIP 

271*10 

.DM 

5640 

.bcu 

may 

.beu 

(5114 V 

AF 

9*9 V 

DM 

lozny 

8 

fSJ4V 

.FF 

10460 V 

CS 

1020 9 

JJI 

11I73SS0V 


tf UBS BJ-U0 Extra YItM— S 
d UBS Fix Term lnv-SFR96_SF 
d UBS Fta Term Mv-DM t6_DM 
d UBS Hx Tam lnv0cu f0_Beu 

tf UBS Fix Tam Inv-PP *6 PF 

d UBS Eq iny-EuronoA DM 

d UBS Eq Inv-EinPO T— DM 
tf UBS Ea invGCep USA_^ 
tf UBS Pen I Fix IM (SFR)_SF 
tf UBS Pvt I nx me (DM) _DM 
tf UBS Pori 1 Fbc Ik (Ecu)— Ecu 
d UBS Pan I Fix Ik (USD— g 
d UBS Port I Rx Ik (Lit).— Lit 
tf UBS Peri 1 Fix 1K IFF)— PF 
d UBS Cop invwie USS— A 
d UBSCoRtavK/lOGorm— DM 
WORLDFOUO MUTUAL FUNDS 
d S oaiv Income * 

d DM Oaiv income 
tfSBoK Income 
d Nen>SBands 
dGleba Bondi 
d CMnl BnloneK 
d GIKal Equititi. 
tf US Comorvaivo EauHies-A 
d US noroimi T Eouhtas. 
d Euranean EouHis. 
d PocmcEKin 
d NeiuraRemureei. 


Other Funds 

wAcflcrelssence 9aiv_^— FF 
Hr Acflflnaneo Staev — — a 
wAaitiitun 

.FF 



wActlgoatanacov— 
Hr AcHvK InlT Sicov. 
Hr AdetaUo— ~— 


wAdaotae. 


mAitaaneK Lam Ftf Utf S 

mAdvoncK Podfle Stnit s 

wAIG Taiwan RiK.^—^A 
wAtaxondro GK invea Pri lA 
TtiAiwo tnmtmra ,T 

nr Aqullo KItariHItIWWl PuKA 
HrAftWninvrTtmra ...t 
w Anns FuK BaaKK— SF 
w Argus PuK Bond— SF 
tf Alio Oeeenta FuK— A 

wASSIGIsKDAG DM 

mASMctatad Invsaen ini— S 
wAlhaw Puitf Ltd— 8 
wATO NIkka FuK , , < 

w Bonza HsdgK Growth Pd A 
ivBaelunaiia CopAK— 8 

leBEM intantotiof Hi Ltd s 

tf BikubcftMenK EEF— £eu 

mBUcnHrGMbaFdASh I 

m Blacmar Globel M B Sh— 8 
m Btaanor cna Fd CownoK 
w Brae »"«— ■ ! g g 

d m » - • 

nca Eure Loverogo Fd LtdA 
mCoMM AssaK imBd Fd_s 
tf CB Cenm index FuK— DM 
mCentvry Futurci— 


mCervbi Growth I 
fflCaiton IK IBvii Ltd. 

Hr cmm Vbtan^— 8 

w Otada I i-itM cc 

tf Cmusa. 


wCMI Investment PuK. 


flt*v 
10147V 
1009 
10709 
lOUZy 
221749 
22709 
13009 
*116 y 
4»JIV 
16073 V 
lOOTSv 
inWiMV 
46309 
10510 V 
122729 

10 

10 

T70 

27,10 

3885 

11*6 

1*0 

140 

1114 

1174 

1477 

18* 


awrw 

84*0 

85114 

5070 

3671 

*9178 

1920 

*534 

*516 

16003 

110 

92114* 

5510 

*889 

118801 

10220 

1552 

66X7S 

*030 

*1)132 

74133 

517197 

10 

110 

1U.I7 

2*113 

«!5M4 

3655* 

5*0874 

00 

»66ie* 

80 

14156 

90*71 

1534 

102070 

180 

1410 

)m0 


fflOUL strangle Bd Ftf Ltd — 5 
fflCML Strangle tnv Fd LiftA 
mCehxnbus HoMngi— 8 
niCancertft inv FuK— A 
wComivK Acfleno lai HF 

w Csahna ObK Bolux CT_—BP 

tv CemiveaOhli World DM 

wcaivsa Fd mn ACons— s 
w tewiri. Fd tnn B Corn— 5 
ntcmgcirilicw. 


wCRM&TP.FdUd. 


AP 


fflCRM Fulvm FuK LW— A 
w CRM Globa Fd Ltd —8 
wDttOv Aaa Mem Ud— s 
Hr Cumber Inll N.V. A 

w Curr.COfleont 3060— A 
ff D.W|ttirWMWWI IWTHA 

WDAC -..A 

tf Dolw JoPon RiK— V 
tf DB AiwKin Stf Ptf— I 
tf DBSC / Nnfln BoK FiiK_ft 
w OorivtfHre Amr Anoi^«A 

wDali C taOnoLW i 

tf Orovtus Amatcn FuK_— S 
r DVT Psrtaniienet Fd,.. .8 
fflDvnoilv Fund. 


w Ego Ovemoi FuK Ltd — 8 
mEUlo World FuK LM.—AP 
tf EK Bag. imL Plus A,— BF 

tf BnilBoln.ind.Pliii8 BF 

0 EM France un. Flue l—FF 
tf EK France iniLPhaB—FF 
tf Eml Cenn.liid.PlusA— DM 
tf Eml Denn. IK Phis B— _OM 
tf EKitam.lntfBFhaA— FI 
tf Eml Nelth index PiusB— Ft 
tf EmiSnaUiifxLPiueA— Pto 
tf Eml Snota IikL Ftas " »*" 

a EmlUKinoexPlueA— 2 
tf Eml UK Index Pin B_— ( 
w EKr. Sta Inv. Sih Eur Ptf A 
tf SiKraeitts. 


tf Eurepe baioatlenB. 
wFJVLP.Pernetta— 
rnPotum r 


.Ecu 


fflFIrebIrtf Owereeoi Ltd. 
w FIK EkM PuK— 
w First Ecu Ltd. 


ffl FIK Franttor Fimd. 
w FL Trust /Uta. 


nr FL Trull SwiealoK. 

tf FMltDlta—— 

w Fenlux I Menev — 
w Faiha 3 • Inti BoK — 
w PemMRHon W IM1. 


-SF 

.FF 


tf lai Notwarh Invt. 
tf immitaDWS. 


w Jem Fodtie Fum 

niJamSetacllen 

w Jom Soleeflen FuK 
wKonmor GllSortas3. 
w konmor GKra ita itf - 
m Ktaeota CIOMI Fd Ltd. 
w KM Globa. 


tf KML • II Htah viato— A 
tv Kerao Growth Truto— 5 
w La Favelta Heldtaei LW— i 
b LAFavottoReaiitarGcwitM 
fflLb JeUd la Grih Fd LW.A 
wLoasicm— ^_S 
oiLm Portorannee Fd— S 
xrLF mternaiu Kt . 


ffl London Porttaio SorvicosA 
»ig«i.wtugm « 

fflLux IntlMglFdLId— 8 
Luhtftd. 


fflLvRxSoLHekgngu 


AF 


w MJCIngden Otfetfiore, N.V_A 
mMoiWr Con literal Fd—S 
gr Matterhorn Ofbhero Fd— A 
wMBE Jem FuK— LF 
fflMcCimu Gleoa ISep 101— I 
fflMCM M.UKtad— S 
w MIMnnium Mornotlena— s 
ffliVUM intcrnaiona Ud—S 
5 ML Prtaelp Praee Ptof— d 
mAKemiaum CuOd Ltd—* 

..M— «■ 

iriAllenl BtaKHodoo 9 

wiMuiiiiiiiiiris— — PP 
tf NtwtMUaiMum Fa.Ltd_s 
tf NewbonkPebBiturei— 8 
mNtaotyitires Mutual Fd NV.E« 
irtNMT ASlon SeL Perttalto— 8 
IV Noble Portnera lai Ud— A 
w Novo Fin Fd LiiftPrap Sor A 
m MSP F.I.T. LW— i 
nt OesK SIraiHtae Limitad—i 
b Ofbhm Strataaa Ud— A 
wOM iienira mn Ltd — a 
mClmw Gvotmos Portasn A 
ffl OneanMmer u A An— A 
fflQpHmum FuK— — s 
wOmdeFuKUd. 


fflOvoriook Periemwiice— A 
in Podi RIM Opp hvi Ocr 17 a 
A t Pm FixM Ik Fd (Jon 31) A 
ffl PAN mtarnaiona Ltd— A 
ur Poneiirri me— —A 
w Panda PvK Pie. 


aPonnlpesOlfthare ISep38)A 
nPorobon FuK UmHK— _A 
fflPoKiax FuKLM^— A 
nPequa inri g'-** « 

fflPtrmal UKvIio LM— A 
w Fharmo/wHeahu 


ir Ptarl^len PkirHorex— _PP 
w pturtanflon Pfartvaleur— FF 
hr Phirivea Sicov »» 

ffl Pemhoy Owqraaoo (Jd 
ntPertuo 
fflPerluguetaSfflaisrCDCl CS 
mPrimo CopItal FuK LM— A 
ffl Prlmm Fund— .^^A 
tf PreflraasJL. 
w Pyramid mv Fdl 
tf RAO la. Inv. Fd. 

0 RooaiMFuKLie. 
fflRohCommvoshnad n.v. 
t MclnevotoFiiKB. 


W RM Futures FuK Sieov—S 
wSainrY lai SouHv— Ecu 

wSaiorY lai Fbwd Ecu 

tf SaiyeiCta.5Mln Fd. 


tf Sarakreek iW dlK N.V. . 
wSoiiirn FuK. 


mSovov FuK im - « 

tf SCI t TociSAljuxonbeures 
fflSetaeta Clotal Hodge Fd_A 
tf saoaivo Fa. phi lm— s 
wSkictalr MultHuK Ltd^— 8 
wSkdra FuK LW.— .A 
Hr SJO CMUa (6e*l93|.6S)S— A 
tf SKlh Barney Wrldwtf SecA 
tf Smlta Bnrnev Wrtdwd SpKi 
wSP intornoBona SA ASh_7 
w SP IntaRKtaral SA B Sh A 
fflSpirIt Hodet HW— A 
msarlt Neutral HW. 


w SMawrei OXsoi Pd LtdA 
wStatatardi RoaivTrua— S 
fflStrider Pato— — A 

fflStrameOllihera ■ m - « 

tf sunea Globa III Ltd— s 
tf Sunoa Cbba Ono — A 
mSotoex NMorr. 


tv ToehK Growth nmd —AP 
0 Tomptatan Gleua ik— A 
At The Bridge Paid NLV— A 
mTbi QopGtaba OHihere A 
tf The inilll Mail AdvbersA 
ntThe J FiiK B.VJ, Ltd— S 
w The Jaguar F uK N.V. 
tf The M*A*R*S Pd Staov aa 
tf Thi M*A'R*S Fd Staov L ATM 
tf TheAtaguoEcdFtfLM.— Ecu 
tf The Moous US 8 Fd LIO_A 
fflTho SeydMitai Fd LM— A_ 
fflTho Smart BoK Ltd. 
ffl The smori BeK Ltd. 


nr Thenw MM Futures A 
fflltaa Sotac HoM NV BW— t 
b TllC (OTC) Joo. Fd StaevA 
b Tokyo (OTC) FuK Sicov A 
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CenkxSFredRonan 
Tel.: 03 1)46 37 93 91 
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or your neoreoi IHT odSoe 

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Internationai Herald Tribune, T'uesday, October 25, 1994 


Page 13 



THETMB INDEX : 115 .. 

International Herald Tnliune Worta Stock Index ©, compose?^ 
280 intermtior^ly investable stocks from 25 countries, compiled 
byBloombeig Business News. Jan. 1, 1992 = 100 
120 


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World Index 

!0'24/9J cfove. 113.95 
PrcviOLU:/ 1 "16.05 


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Rmo, Qomamr, Hong Kenft Itadeo, Nethoitandi, Now Nanny, 

aneiearak C wod w i; Owltewleiil and Vanaaiala. For Tek/^ New Yaik and 
London, the hdea Is eemfio^ of da SO top kauas h Ismis el marim eapkabOlon. 
odtenlaedalanlopalodaaninKkad. 


1 Industrial Sectors I 


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For mom Mamadon about die lniiBx,abooldmlsavaB^dekBeofchaige. 
VIMlBloTiiilndBX, 187 Avenue Charies do GauBe. 92521 Neu^ Cedes. Ranee. 


IBM and GM: Diverging Fates? 

Qtmputer Giant Cruises While Automaker Stalls 


By Steve Lohr and James Bennet 

AVk' I'iifk Tiitia Serwe 

NEW YORK — li seemed like two of 
the world's most Lroubled eompanies 
had linally got ii right. In whai looked 
like historic nimarounds, General Mo- 
tors Corp. and Inieroation^ Business 
Mactunes Coip. were bouhciug back 
from disastrous losses and just about 
everybody — from customers to inves- 
tors — was cheering. 

Bui last week, the cheering lumed to 
frightened silence at GM when ii reponr 
ed a profit worldwide but a worrying loss 
at its crudal auto business in North 
America delate soaring sales. 

The disappearing loss, GM’s first in 
nine monii^ prompted selling on Wall 
Street and doubts throughout co^rate 
America and dozens a CM factory 
towns as to whether the renaissance <» 
the world’s largest industrial company 
was actually on track 

Only minutes before the GM report, 
IBM announced its finandai results. But 
the picture at the big computer maker 
was mncli btighta: Pioht and sales were 
suiprismgly strong, and Wall Street was 
plrased. 

After rallying last week, IBM stock 
finighftd Monday at S73.00, down from 
$74,625. GM dosed at $40.75. down 
from $4125. 

The lecov^ of both companies has 
been scrutinize around riie wodd not 
only because of their economic reach — 
they directly ei]q>loy more than 880,000 
le in scores tk dries around the 
Id — but also because for genera- 
tions th^ have been centers of Aimrican 


iugeauin- and industrial might. IBM is 
the icdding patent bolder in the world; 
GM leads an industiy that accounts for 
one in eight jobs in America. 

GM's setback last week suggested a 
divcigence of fates for the two compa- 
nies. But- experts say GM’s problems 
may actually sert'e as a cautionary lesson 
for IBM. it dUo illustrates the trwrils of 
reshaping a giant company after years of 
mismanagemeut in an economy whose 
direction has been difficult to predict. 



MT 


**Six months or nine months from 
noWj IBM could be facing the game kind 
of hiccup that CM is wSay," said Nod 
Hcby, a pnrfessor at the IJniversiQr of 
hCchi^ business school ‘Trying to 
transform these big corporations, really 
malfing a fundamentd change in the way 
they do things, is veiy' difficull” 

Both IBM and GM, de^te its slip- 
page last wedt, seem to be making steady 
progress in th^ recovery drives, indus- 
uy analj^ts say. But both have benefited 
from a jnckup in the economy, and both 
must hurry to get in shape before the 
maritet turns sour. 

For GM, the riming is more dosely 
linked to the general levd of economic 
activity, and the next downturn in the 
auto bv^ess is expected in 1996. IBM, 
for its part, must rush to find new grow^ 
as its traditional business in big main- 
frame computers erodes. 

*The jury is stQl out on both IBM and 
GM,*' said Michad Hammer, a manage, 
ment consultant in Cambridge, Massa- 
diusetts. 

To design, make and market Chevro- 
lets and con^ters are very different 
undertakuigs. But there axe sane strik- 
ing similarities in the fundamental 
changes under way at both oonqianies. 

Both GM and IBM squeezed out their 
chief executives. The new leaders are 
tackling issues of cost-cutting, buriness 
strategy and corporate culture. At IBM 
headquarters in Armonk, New York, top 
executives hc^ to avoid inis5tq>s, but 

See DIVERGENCE, Page 15 


Italy Likely to Approve Bank Nominee 


e Intemational HeraM Tifeurw 


Compikd if Oar Su^ From Di^atdm 

ROME — Prime Minister Sl- 
vio Berhiscooi said Monday 
he would not block (he Bt^ oi 
Ita^s nomination of Vinceozo 
De^o as directOT-geaeral 

The battle of wins between the 
fflve mm ent and central bank 
over the naming of a dqni^ gpv- 
tmex has draped on for five 
months, with the cabinet piess- 
ing for an externaf cantfidate 
and tile Bank Italy wanting an 
in-house ai^xxntmenL 


Last wedc the bank’s superior 
coundl brushed aside govem- 
meni objections and unUateral- 
ly ch(^ Mr. Desario, already 
one of the bank’s two dqiu^ 
director-generals, for the post 
The cabiaet, wbirit must con- 
finn the -bar^s choice, then 
posqxiDed any dedsicoi, saying 
it n^ed more rime. The £resh 
dday prompted a threat to strike 
from centr^ bank workers. 

*’Wc realize it vrould be nega- 
tive for the countiy if there were 
a conflict between tbe govern- 


ment and Bank of Italy,” Mr. 
Bcriusconi said in a in- 

terview vrith stale radio RAI. 

Many analysts had feared 
that if the govenunent got its 
way over the appointment, this 
could <roen the way for more 
political interference in the 
bank, which by law is empow- 
ered to set interest-rate and 
monetaiy policy independently. 

The post of director-genei^ 
became vacant in May when 
Lamberto Dini left to become 
Treasury minister. 


EU Abandons 
Bid to Revamp 
Steel Industry 


"We have nothing ^ai^ 
Desario,” Mr. Beriuscom said. 
"But we had suggested the ap- 
pointment of an external candi- 
date, whidi in the past pro- 
duced excellent results." 

Relatitms between the govern- 
ment and ^ Bank k Itafy 
soured this summer when thie 
central bank unexpectedly 
raised interest rates and in- 
fonned ministers only after- 
ward. 

(Reuters, 

Bloomberg, Knighi-Ridder) 


By Tom Buerkle 

Inieniedenal Herotd Tribme 

BRUSSELS — The Europe- 
an Commisritm has decided to 
abandon its restructuring plan 
for the Sled industiy because 
the economic recovery has 
made private producers unwill- 
i^ to ml capacity further, offi- 
cials said Monday. 

Tbe deciaon bring to an 
end the commisskHi’s most am- 
bitious attempt ever to cushion 
the downsiring of a major in- 
dustiy with a padcage of aid, 
import restrictions and official 
sanction to collusion between 
private steelmakers. 

Competiticrn Commissioner 
Karel van Mien and indusby 
Commissioaer Martin Ban^ 
maim, who have been seelimig 
to reduce overall European 
steel capacity by 19 milli on 
tons, or roughly 15 percent, 
have agreed lo recommend that 
the Europe Union's executive 
agency give up its efforts, 
q>okesmen for the two offidals 
said 

After an agreemeni b> seiiiur 
aides Monday, the full lummis- 
non was expected to back the 
decision Tuesday, officials said. 
EU indusio niicisters. who 
threatened lust inouEh ic aban- 
don the plan unless mdiLstiy 
(rffered more ciqiacity cuts by 
next week, were expected to to- 
mally declare the plan dead at a 
meeting Nov. 8 in Brussels. 

“We gave indusiTj a deadline 
of Nov. 8," a commission 
spokesman said. "As there 
h^'t been a sufficient reduc- 
tion, let’s drop the accompany- 
ing measures,” as the commis- 
sion calls its aid packsqse. 

The commission contends a 
recent recovery in steel pikes in 
large part reflects expi^iations 
that its plan would succeed and 
that f^ailure would condemn the 
industiy to an even deeper crisis 
the next time that the economy 
turns down. 

Cuts of around 11 nulUon 


tons have been made or pledged . 
so far, half by private industiy- 
and half by putdic steelmakers 
in Germany, Italy and Spain. 

■ EU Approves EKO Aid 

The European Commission 
will approve a privatization 
plan for Eastern Germany’s, 
troubled steel group EKO S(^ 
GmbH that will include subsi- 
dies of around 890 million 
Deutsche marks ($597 nulUon), 
tbe German goveriunect said 
Monday, according to a Reu- 
ters distich from Bonn. 

The Economics Ministry said 
a deal hud been reached with - 
Brussels on how to implement 
the takeover of EKO by ite 
Belgian sled group Coekec^- 
Sambre SA. 


Brusseh Opens 
The PItone Lines 

intcrnuluiul HcitdJ Inhunr 

BRUSSELS — Rie Euiope- 
an CommissioD wxs expected to 
propo.se allowing limited trie- 
coiniiiunication.i competition ' 
D> vaoie loleviaiuii operators 
and uiililies beginning next 
year, and competmg telephone ' 
networks begmning in 1998, (d- 
fidals said Monday. 

The proposal to allow com- 
petition in lelccommunications 
networks, and not just service, 
is regarded as essential to Eu- 
rope’s ability to cut co.st5 and ' 
build the baus for an infoima- 
lion superhighway. 

“Liberalization should be' 
speeded i^,** said one commis- 
sion official. 

The proposal by Competition 
Commissioner Karel van Miert 
and Industry Commissioner 
Martin Bangemaim was expect- 
ed to be £q>proved when the' 
commission meets Tuesday. 


• f, 

t ‘ t 

•I ? 




i:i 


Thiilldlig Ahead /Commentary 


Now the Foreign Tide Laps at Japan 


ByR^jualdDale 

fatsHHUlenei BaaH Dibma 

W ASHINGTON — As immi- 
gration becomes an ever 
more erosive issue in the 
industciunations, one coun- 
try seems to be bnddng the trend. J^pan 
looks like an island of ethnic homo- 
geneity in a mriting-pot world. 

to Jqiaa’s cheriSied insularity may 
not lak macb longer, according to a study 
^ Takariu just published Ity tlie 
Endowment m Washington. 
Japan’s desire to preserve its ethnic 
hmnogeneity is about to darii with grow- 
ing ecODOii& needs as labor riioriages 
worsen, particularly in job areas that 
don’t tppGsi to Japanese. Foreign wosk- 
eis, bodt l^al and illegal, are already a 
Mnrit but grenving pr es ence. 

The extent to ^rindi Japan turns to 
immigrant labw will say a lot about tbe 
connti^ ftrt u re attitude to tbe outside 
woridlhe Jtqianese, Mr. Oka says, view 
the isue as an mteg^ part of the larger 
htotwrit-iiT argument over how open a 
countiy. Japan should be, dating baric to 
the xmd-19tb century. 

Jean’s labor shortage has been 
magVwi the lecesrion, but the prob- 
lem vriD soon reiypear as economte re- 
covexy pace. With the population 
agin g rqndly, me Jtqianese labor force is 
wmty growing mura more riowly than 
-it did in the 1980s. 

By 2000, according to (me estimate, 
there vriQ be a shmt^ of 1 million 
wipers. U present trezias con^ue, the 
pr ytilatiQ n wSH Stall Haelining in ^10. 


By eariy in the next centuty, if not 
befm^ Japan’s labor shwieges force 
it to face a “demographic day of redum- 
ii^” writes Dem^os G. Papademe- 
tnou of the Cam^e Endowment in the 
study’s introduction. 

Japan win be obliged “either to pursue 
a ciubiially painful ]aboc force rational- 
ization (notabty by biingjng in more 


Japan’s cherished 
insularity may not last for 
much longer. 


w(Hnesi and retraining the elderiy) (v 
aiap\y to turn entire Ub(» maiket s^- 
ments over to foreiga woriceis.” 

Some Japanese are even heretically 
questioniog tbe vriirie conc^t of ethnic 
purity, (tftra (daimed as a pnneapri fac- 
tor briiind the counizy’s Hwwnmip suc- 
cess. “We should this <mpoitunity 
to change Japu into a miuticultuFal 
multiethmc society,” says lErosiu Ko- 
mai of Tsukuba IMversity. 

Since the nuntiier of fordgn workets is 
sUn rriativdy small and they are not 
taking desirable jobs from many Japa- 
nese citizens, the oontroverty is reuy 
over their future effect on J^anese soci- 
ety, Mr. Oka says. 

As yet there is oo anti-fordgner politi- 
cal movement in J^>aa like those that 
have swept across parts (rf Eon^ al- 
though the li^tist fringe has taken to 


shouting anti-foreigner slogans. Foreign- 
ers represent barely 1 . percent of the 
population. 

Tbe aimxment is between those who 
would hcra the ’barbarians” outride the 
gate at all costs and those who briieve 
Japan must open its doors, at least to a 
imiWwH d^ree, tty rdaxing draconian 
laws barring foreign unskilled woricers. 

Those who want to keq) tbe doors 
closed argue that Japan was right not to 
follow Germany’s example and recruit 
foreign “guest workers” when labor be- 
came scarce in ihe 1970s. That forced 
J^anese manufacturers to automate, ra- 
riftnalTTe and innovate. 

Texlay, they say, a new round of tech- 
nical innovation B required. Companies 
co mplaining of 18bor shortages should 
innova^ merge, move overseas or go out 
of busing. 

Advocates of tbe don’t-let-tbem-in 
school, says Mr. Cto are in varying 
states oi panic over the thought that the 
foreign imow is already lipping at the 
country’s e^es. 

But, says ^ly R Saxonhouse of the 
Univerrity of Miibigan, J^an is never 
going to be as (pen to immigrants as the 
Unitra totes or the European Union. 
Most conmaiiies in serious need of labor 
win simply move abroad. 

“GlobaUzatioa is tbe watchword in 
toda/s Japan,” Mr. Saxonhouse says. 
But that could in turn affect the immi- 
gratkn debate. Japan may have to ask 
itself whether it can fitifiD its global lead- 
ership ambitioiis without to some extent 
globalizing its own society. 


CURRENCY & INTEREST RATES 


CrOMlMM 

s S OJtL F.F. Ura o.n BA &F, Voo C$ Peseta 

liii’ gm LM UUI a.BN* &NK* MU la* IMS I.SU5* 

moa t suK nans tiw iM* um — am uus &ns aos- 

«■=. 9MS uns urn* usa 4iS7- mw i3im- un i.i9m* 

,(ai ua - mu UM 3010 ami a.i4S5 aim lors aim uu* 

wen , aasn nan aos us* auv 4Mi imau omu* riu ^ 

jjnjo um aws — nan ujm uzhb iur uaoa iizu 

NswvwkiM — ms« u» &I 1 S iBJO laa aw uua f7.u ura lus 

PM £W SM 104 USI* UfO UtU mil SW- 3IW 4JI8> 

Afl ly iUf UM UH 501 USU 7M1 M UR6 

use arm tSHS aiM obm- urn oan* um uni* — um- 

zirw ' IMS ina aaoa uns* sju om* uus- tuM ams* 
iBcu um use iras uoi USLC im aaoH uw nuM usi umu 

I fpn . gjfO — * TJSa HA HA tUB* IJil7 HUH IIBB BUT? 

Ctasta BAmsatdOmLsndsnktafkfkaHdJbrlA/MitfJnoaeresiasa/remtn rafts 
of Jarl 

' a: 70 bus aea oaimd: 0:70 bur ana dollar; •: tMis at let; NA: net malsd; HA.: /wf 
OMOfloOftb - - 


Eproc ur yn cy D o po s itn 


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Swlis 

Franc 

SMritag 

Frmch 

Franc 

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Oct 24 

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3"v3 4t. 

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43744 



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Oorrener 

XAir.nnd 

S.Kor.una 

Sweakron 

Tohmt 

TUIboM 

TurUiblIra 

UAEdlilnm 

veocbbetlv. 


Perl 

ism 

79b66 

7.1138 

34M 

35316. 

aor 

169S7 


i:r- 


toumrd Ratos 

ComMs SMoy 6MW fdOar Currmer 

P*— SIftrtiM U39 tAS3 1J3S3 

nseftBkiiooiX liM) UOM 1.906 

SftUifraK U9M usas usa 

Sounsa: INO Bank uunsiaedaml: adesuat Bma (Bnassisli Banco CamnarOola NaHauo 
tsutenj; ipniff /‘rancs Prassa IPorin; Bans at Tokyo iTOkyote Revul Bank of Cawda 

tToroiiieif/lMFfSPiV-OdardelBlremHoidmandAP: 


3Moy 6Mev lOiOaT 
US16 usu lasof 

W.16 Sfcn MiO 


ImOBNl 441.^4^ 

Smoniltt SIMtfc 5 i.p5v» 

Omoiiltis 5br«»h 

ITM- 

Setnes; JftwfM Uaytt Sank. 

BaosoooBcobloloMerbaokdeototiseiainittiimmMmuai larooutvolenti. 


Kay Monay Ratas 

untied Slates Close Prsv, 

Micaoatraie 4JI0 4.00 

Prliwrale 7% m 

redsiai taadi 4 4 % 

34nantbCD$ 4Z5 4S0 

GaniBLPMeriMaavs &62 5.62 

Swidli Treosanr Ml SOO 4A 

l-norTreoaonrHU &U &B1 

^yaarTraa■BTBalt 6J9 6J3 

S'Veor Treownr note 7i0 704 

^va■r TrOBfaryaele 7Sa 7M 

leveofTreeasiviiMB 7M 7Ja 

ISifaorTr eBM fybBod eS4 7.58 

UlmlHlMOW eoyneadyoMel 05 424 

Jam 

Olico iw t ral e 146 W, 

Coil mmy 3.» 2K 

l^naoNi MerlwBk 2U 3V. 

3-neatO iatarbonk 3 2 

vmootlilBtermk 3*^ 2:. 

I Q year O e w eat boao 4.73 4.64 

OWWMjl 

LoBbard rate 6310 600 

CoHmooey 4,95 490 

IsnooHi bderboak SOD £00 

Sracotblnleitenk £00 £30 

i mniwti inlmtiniWt £30 530 

lanreer Bved 747 746 


Bonk bose raft 

PL 


CoO money 

Sft 

ss 

MINHJUI lUIBllMlllE 

sva 

5^ 

Xmonm buerbonk 

5^ 

5<!’h 

64iiQaitilinerbanlc 

ova 

OVt 

WiweiH 

AM 

B44 

France 



Inhrrantlen rote 

SM 

£00 

CM money 

Svi. 

Si;. 

ViHnlli Merbnfe 

» 

Mb 

3HnenlhM«itaok 

5h 

Sv, 

o^HomtaftraonR 


S<)h 

IFyoorOAT 

034 

£34 


Sources: Bewtsrs. Bloomberg. Merrill 
LKOdL Bonk of Tokyo, Cemmeriboak, 
OretnioeUMBiaaou-CreiaiLyemalt. 

QoM 

Zurioi 
London 
fiewYeiK 

UAdtilaneerounee. LeadonoffMmfbh 
bigs; Zutleb and New York ooenloe and dot’ 
maortees: Mem roi* Cemex fOKember.; 
Source: Healers. 


AAA. 

PAA. 

aeoo 

3B9A5 

38930 

— 130 

JB930 

3B9J0 

— 1A5 

391.50 

39140 

— 140 


The IHT /Delta Air Lines 
Destinations Competition 


Here's How to Enter. 

Test your travel knowledge! Each day for 18 
consecutive days, a clue describing a city to which 
Delta Air Lines flies will be publiwed. Using 
Delta's Map, jEill in the name of the ciw correctly 
for at least 12 of the 18 days and qualify to win. 

Once you have at least 12 answeis, put 
them in an envelope and send them to us with the 
completed coupon below. 

Winners will be selected from an official 
drawing. The first 10 entries drawn with the 
correct re^nses 'wiil be the winners. 


Win Fabulous Prizes 

First Prize: 

Two round-trip Trans-Atlantic 
First Class tickets. 

Second Prize: 

Two round-trip Trans-Atlantic 
Business Class tickets. 

4 Third Prizes: 

AT Cross, gold plated, diamond cut, 
roller ball pms, the Signature Collection. 
4 Fourth Prizes: 

Cold Ffeil men's wallets. 


Delta Air Lines' Destinations Map 


AnrierdSB 


Stockholm^ OHelsinId 

Copeofiagen °StPeteisburg 

rSoBeilin OWaiSBW 
QPiague 


Lamon^ 


DetreBO 


Onc&rti ^ 

OAthiBte 

oOitoto' 


ototin 
Yak 


“‘'““I 


Attiens^ 


OTriAirtv 



.. ostUmaas 


DeH o 
^mbay 


RULES AND REGULATIONS 


(D Airline tickets are non-transferable and seats subject 
to availability. 

® Travel must be completed by December 31st. 1995. 

(D Entry must be postmarked no later than November 
7th, 1994. 

® Valid only where legal. No purchase necessary. 

® Entries will not be accepted from staff and families of 
the IKT newspaper, Delta Air Lines, their agente and 
subsidiaries. 

® No correspondence will be entered into. Proof of 
postage will not be accepted as proof of receipt 

® No cash alternative to prizes. 

® Winners will be drawn on November 15th and 
published thereafter in the newspaper. 

® On all matters, the editor's decision is final. 

@ The editor reserves the right in his absolute 
discretion to disqualify any entry, competitor or 
nominee, or to vttwe any rules m the event of 
circumstances outside our control arising which, in 
his opinion, make it desirable to cancel me 
competition at any stage. 


YOUR RESPONSE: 


Sbeandllmk 
Xiar* in Finland. 


vName of City: ^ . ... ^ ^ , 


NAME. 


JOB TITLE. 
COMPANY. 
ADDRESS- 


POSTCODE. 

C0UNTRY_ 


.CITY. 


_TEL 


Send coupons to: IHT/DcIca Cunipcdiion, 
Iniemacional Herald Tribune, 

ISl .Avenue Ch3rlcs.Je-Cju]le, ‘>i 5 _iAj 04 

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Kcralb ^idS^ribunc 

A.IM2AAIRUNES 

— --Ton’ll LOVI TIE W41 Ml llfi 










nSTERNATIOISAL HER.ALD TRIBUNE. Tl ESDAY, OCTOBER 25. 1994 


.Paj 

* 


.Page 14 


market diary 


Fears of Rate Rises 
Overwhelm Stocks 


Compikd fy Oir Sli^ From Di^mldia 

: NEW YORK — Stocks slid 
Monday, pressured by the 
slump in the bond ma^et as 
concern about lisiiig interest 
rates overwhelmed beiier-than- 
eapected earnings. 

“There's continual anxiety 
about how much higher we are 
going on rates." said Ronald 
Doran, head of institutional eq- 
uities trading at CL King & 
Associates Inc. As rates rise. 


U.S. Stocks 


more investors are expected to 
seek the safer returns of fixed- 
income investments. 

The Dow Jones Industrial 
Average closed 36.00 points 
lower, at 3,8SS.30. 

Fi%'e shares declined for every 
four that advanced on the New 
York Stock Exchange, where 
trading was active at 286.1 mil- 
lion shares. 

The losses in bonds were fu- 
eled by a falling doUar and con- 
cern about accelerating infla- 
tion. Tbc benchm^ 30-year 
Treasury bond rose to 8.04 per- 
cent from 7.98 percent Friday. 

i^uminum Co. of America, 
which lost to 86'4. Eastman 
Kodak, which fell IH to 48. and 
Interaational Paper, which de- 


clined P''4 to nVi, led the de- 


cline in the Dow. 


Among the most actively 
traded issues. Airborne Freight 
plununeted to 19%, after the 
company said third-quarter 
earnings fell more than expect- 
ed. Fraeral Express also fell, 
ending down 1%, at 611%. 

Black & Decker ended up 
at 23%, after the company re- 
ported higher-than-expecied 
earnings. 

General Nutiiiion jumped 
2%. to 26%, after the vitamin 
retailer was raised to a “buy" by 
an analyst at PaineWebber. 

Exxon closed down %, at 
39%, despite higher earnings. 
Snapple slipped to 14 3/16. 
after an analyst reportedly pre- 
dicted the iced-tea maker’s 
stock would fall in six months. 

Philip Morris added %, to 
61%, aner the tobacco and food 
giant’s shares were said to be 
undervalued relative to their 
rates of return. 

Westin^ouse Qectric closed 
% higher, at 14. 

U.S. Healthcare gained 1%. 
to 46%, after the company said 
egmin gs were hig her than ex- 
pected. 

Pfizer ended up 1, at 74%, 
after die biotechonology com- 
ply said its drug ^ablex sig- 
nificantly slowed the progres- 
sion of ibeumatoid art^tis. 

(Bloomberg, Reuters, AP) 


Vn Aiwciawd hvii 


Od 3J 


The Dow 


Deity closing of the 
Dow Jones industrial average 


4000 



A M 

1994 


J J A S O 


i Dow Jonos Averages 


Last Oio- 


Inous 

Trans 

i UM 
I Come 


Orm Hish Lew 
le«3.«8 »l T.C8 38U.62 IBSSJfl 

I79J1 179.67 iniO 177.0 -’IM 
129SJ3 IJ99.7I I779J9 1279.97— IS49 


Btandard A Poor's Indexes 


i naus rriaii 

Trsno, 

Uiilities 

Finance 

SPSM 

SP IDO 


Hlen LOW Close Ciroe 
SBiM USJU S4S.6S -4.l< 
30IJ3 3S6.I2 3S6.I4 —271 

isoaa I4U0 mss-iTo 

O.DI 4128 CJB — OM 
466.37 4daAI 46083 - 4.06 
42110 06.33 420S7 -4.3S 


NYSE Indexes 


Hi4i Lew Lost Ois. 


I Composite 
IflOuefridis 
Tronu 
Utility 
P.nanee 


IHT 


NYSE Most Actives 


256J6 :514» 25150 —tOt 
393J7 3I9.04 31997 — 3J2 
731.61 738.73 236.74 ..1 87 
»2.d? m.(w 20107 — :.s 
30334 200.93 90193 -3.08 


NASDAQ Indexes 


High Lew Lost Chg. 


Dollar Dragged Down 
By Wall Street Slump 


Cett^U bv Our From Di^altiies 

NEW YORK — The dollar 
weakened against other major 
currencies Monday as concern 
about rising inflation rates 
drove U.S. stock and bond 
prices lower. 

Treasury bond prices fell, 
pulling the dollar lower, after 


Foreign Exchange 


Laura O' Andrea Tyson, head of 
the president's Council of Eco- 
nomic Advisers, said the econo- 
my had been growing at a ro- 
bust 4 percent during the past 
year. 

The dollar finished trading in 
New York at 1.49 IS Deutsche 
marks, down from 1.5003 DM 
on Friday, and at 97.150 yen. 
dowTx from 97.235 yen. The dol- 
lar fell to 5.1 153 French francs 
from 5.1390 francs and to 
1 .2428 Swiss francs from 1 2490 
francs. The pound strengthened 
to $1.6325 from S1.6260. 

Normally, signs of strong 
economic grow^ bolster the 


dollar by prompting specula- 
tion that the Federal Reserve 
Board will raise interest rates to 
control inflation, making U.S. 
deposits more attractive. 

But thisyear, signs of strength 
in the U.& economy ^ve hw 
stocks, bonds and the dollar 
cause of investors’ concern that 
the Fed has not raised interest 
rates enou^ to prevent a resur- 
gence of inflation. 

The belief that the U.S. cen- 
tral bank is not prepared to in- 
tervene to support its currency 
also weighed on tte dollar, 
traders said. 

Remarks by Treasuiy Secret 
taiy Lloyd Bentsen last week 
were interpreted as meaning the 
government was ruling out inter- 
vention to lift tiie dollar, but Mr. 
Bentsen clarified his stance later 
to say the United States was still 
prepared to defend its currency. 

Nonetheless, traders now ap- 
pear convinced interventioa is 
unlikely unless the dollar enters 
a free fall (Bloomberg, AP) 



VpL Hioh 

Low 

Lost 

070. 

WsIbSI 

4*3» 14% 

13% 

14% 

-1 

(jnMoir 

65540 41% 

40% 

40% 

— % 

(tanEls 


0% 

0% 


AlrPn 

30415 19% 

19 

19'.i 


Oticom 

ai96 45% 

44% 

44% 

— % 

IBM 


nil 

73 

-1% 



60% 

60% 

— % 


23514 H% 

37'. i 

37Vh 


CoMrpS 

33033 S9'.y 

0% 

50% 

-1% 




9% 


Pflxer 

20X1 74% 

X'.-, 

73-:, 

-% 

FerdMs 


70'-a 

20% 




15% 

IS'. 

— 

NiSemi 

a ■< 

IS% 

15% 

•% 

Owdr 

19647 46% 

45'-: 

45% 


NASDAQ Most Actives 


VoL High 

Lew 

Lad 

Oip. 

Snopple 

0600 16 

13% 

>4"i 

—*.14 

Inlerslv 

44363 164, 

IS*. 

l«'i 

* 

Minfts 

36474 $91> 

S% 

»'« 


/imgeo 

n763 59% 

58 

59 


Novell 

27601 l4% 

15% 

If, 


Cisco* 

26600 ZKVi. 

27 

27% 

-% 

Ma 

TSatO 33 


73'.; 


BavNIw s 

34X1 SS*-* 

34'., 

34' . 


Intel 

3073 60% 

59% 

S9'-.- 

-1 

CenNutr 




-1% 

LasVEnt 

22IS3 7V„ 

1% 

IX'E 


AGreel 

31195 27% 

26% 



AppteC 


41% 

43' 1 


us Him s 



47 

-1% 

TelCmA 

16254 22M; 

371s 

22 1% 

-'1 

AMEX Most Actives 


VOl High 

Low 

Lest 

Oig. 

Vtoevrt 

30B43 1% 

1% 

IYia 


OievSfls 

11341 11% 

lOV; 

11 

-'•y 

VlacB 

10910 39 

36% 

JBSb 

* 



4 


* •'lO 

Eoiiope 

5139 71 

18% 

a*-. 

-1'-, 

XO. Lid 

4*03 1% 


IVu 


GrevLne 

4651 3 

3% 


+ * 4 

Vioonrt 

4333 3% 

3V> 

3".'.. 

* l.’lA 

Am«i 

4195 9'^ 

9% 

9% 


ColOdto 

4117 10% 

9% 

9'« 

— *'1 

Market Saiss 


Today 

Prey. 


Close 

cons. 

NYSE 

38179 

3X2 


Amex 

1&X 

2146 1 

Noedoo 

255.34 

354J3 

in munons. 



1 


CompmiW 

Industrials 

BortSs 

insjronco 

rinmcB 

Transo 


764.97 76IJ8 74 IJ 8 —4.60 
777.88 773.43 77243 -193 
744.13 nfM 739.68 —3^7 
919.86 91103 913.13 —7.00 
912.80 907.46 907^7 -165 
TIIJO 70149 703 49 —8.79 


AMEX Stock Index 


EUROPEAN FUTURES 


Metals 


Claae 

BM ASK 
ALUMINUM (Hign Oniclel 
eallon pgr metric ten 
Soot 17164)0 I719J)0 

Fgmgrs 1740.00 )?4l.00 

COPPBR CATHODES (High 
Dollon pgr metric ion 
Soot 2S40J)0 S61N 

Pomard 2555.00 2557.00 

LEAD 

Dolton per metric ten 
Spot 646J0 647J0 

Ferwora 659X0 660.00 

NICKEL 

Dollgn per metric ten 
Spot 68S5a> 6865.00 

Forward 696SJ>0 697000 

TIN 

Dollan per metric ten 
Soot 5460I!0 54701)0 

Forwont SS45.O0 SSSOiM 

ZINC {$^al High Crade) 
DMIors per metric ton 
Sear lOelJiO 1B61W 

Forward I0B3D0 I084M 


Previous 
Bid Ask 


I734J)0 I73SJ» 
175100 I7S3JD 

Grade) 


2SS2M 2SS100 

2556.00 2S57M 


65150 651SD 
66100 66100 


687SD0 63e0J)0 
ensjw 6990110 


S5isa) ss2Siio 
5605,00 S61IL00 


1067J)0 106SJI0 

looom IDBOJN 


Financial 


Higli Lew ante Oienpe 
MWONTH STERLING (LIFFE) 
fiOOiwe.ptsof loopci 


Dec 

9153 

914* 

9150 

uncA. 

Mor 

93.x 

9165 

9166 

-022 

Jim 

9111 

9S26 

9105 

— 023 

Sep 

9148 

9143 

9143 

— 103 

Dec 

91 J4 

9128 

9159 

-023 

Mor 

91.11 

9126 

9125 

— 104 

Jun 

9ax 

9056 

9026 

— 023 

Sep 

90J3 

9172 

9073 

— 023 


9043 

9163 

9043 

— 123 

Mor 

N.T. 

N.T. 

9056 

— AOS 

JiA 

N.T. 

N.T. 

4051 

— OJD 

Sep 

N.T. 

N.T. 

X51 

— 023 


High Lew Lost Ctie. 
456.41 4S14S 45173 —163 


Dow Jones Bond Averages 


20 Bonds 
lOUMMlies 
10 Inousiriais 


CIOM Cll^ 

95J4 —024 

9QJ9 — 0J2 

10089 — 017 


NYSE Diary 


Advanced 
Declined 
Unoionped 
Total iuucs 
rjew HigtH 
New Lem 


693 843 

1536 1273 

663 785 

3893 3901 

36 30 

ISB 119 


AMEX Diary 


Advanced 
Dedined 
Unchanged 
Torol issues 
Now Highs 
New LOWS 


225 

30 

353 

304 

337 

363 

814 

809 

13 

11 

» 

33 


NASDAQ Diary 


Oese Prv. 


Advanced 
Dedined 
Unoianpcd 
Toiol issues 
NewHipns 
New Lows 


1333 1486 

|9|7 1698 

1861 19S7 

5111 5111 

93 96 

101 91 


Spot ConunodlUea 


Conner eleetnilylle. tb 
Iron FOB, Ion 
Lgod.ib 
Sliver, trev oz 
steel (soropl.tnn 
Till, lb 


Today 
078 
124 
31100 
042 
SJ2S 
139 JO 
17273 
05438 


0787 
1J4 
31100 
042 
5J35 
137 JO 
HJL 
05438 


Est. volume: 20371 Open Inl.: 482,717. 
IMONTH EURODOLLARS (LIFFE) 
n million -pis Of IN pd 
Dec 94J1 94JI 9198 —003 

MSr N.T. N.T. 9155 — 002 

Jgn N.T. N.T. 91C7 — DJ4 

Sep N.T. N.T. 9171 —006 

Eel. volume: 51 Open bit.: 4J71. 

3 MOHTH EUROMARKS (LIFFE) 

DM1 mllBon • pts of IN PCt 


Dee 

Mar 

Jim 

Sep 

Dtc 

JHor 

Jim 

SOP 

Dec 

Mar 

Jun 


9483 

94J9 

94J9 

9169 

91S 

9107 

9185 

9165 

9149 

9138 

9227 

9118 


94 J8 
94J4 
94J4 
9164 
9127 
9103 
9U1 
9162 
9145 
9U5 
9125 
9118 


9481 .9 002 

94J7 Unctl. 


9406 — 0J2 
93J6 —002 


9129 — DJ3 

9102 — 0J« 


9181 — OJS 

9163 -003 


9146 —002 

9135 — aJ2 


9224 —083 

9115 —003 


Est. volume: 66J61. Open inl.: 6i *0 65 7 . 
IMONTH FIBOR (7MATIF) 

FFS mBDoa - Pis Pi IN pd 


Dec 

9U1 

94.18 

9119 

Unch. 

Mar 

9US 

9171 

9173 

— 021 

Jun 

9135 

9130 

93J3 

— 021 

Sep 

9256 

9253 

9193 

— D21 

Dee 

9243 

9259 

*240 

— 101 

Mor 

9140 

9136 

*U7 

— 022 

Jun 

9230 

9216 

9116 

— 103 

Sep 

92M 

9223 

9223 

— 101 


EsL volume; 31 J09. Open Int.; 191531 
LONG GILT (UFFE) 

SOJN ■ pts a 3BldS PflN Pd 
Dec 10149 100-15 too-lfl —0-19 

Md- N.T. H.T. 99-79 - 0-19 

ESL volume: 21731 Open Int.: 100386. 
GERMAN GOVERNMENT BUND (LIFFE) 
DM 250MO - Pts Of IN Pd 
Dec 89.90 09.S 89J7 —035 

MOT 89J1 8869 8868 —OSS 

Est. volume: 71890. Open Int: W.63S. 
lO-YEAR FRENCH GOV. BONDS (MATIF) 


FFSOMOO- 

Oec 

' Pts of 100 pet 
11044 11120 

I10J2 

— 028 

MV 

I09X 

10946 

10954 

—0.10 



10920 

10176 


Sep 

N.T. 

N.T. 

N.T. 

Undl. 

Est. volume: 7450. Open inl.: 142649. 


Industrials 


High LOW Lost Settle OTge 


GASOIL (IPE) 

Ilian per metric ton-lots of IN ten 


ua.dell 

Nev 1S1JS IS07S 151 JO 151 J5 4-025 

Dec 15125 i4?-sn isioo IS17S -I- 025 

Jon 15425 15425 15450 154J0 Undl. 

Feb 7SSJ0 15525 IS5J0 1S5JD ■l■025 


Alar 

Apr 

Aiav 

Jem 

Jdv 

Aug 

»ep 

Od 

Ed. 


Higb 
1S550 
15425 
N.T. 
151M 
I51J0 
N.T. 
I572S 
159 JO 
volume; 


Low 

)S525 

154JID 

N.T. 

injo 

1S3J0 

N.T. 

15725 

l»J0 

10210. 


Lod SeHli CRVa 
155J0 15550 -90^ 
15400 154J0 ^OJO 
N.T. ISlOO -tlTS 
15100 153.00 -9050 
I53J0 151SD UndL 
N.T. 15SJS URdL 
1S72S 1S7JD ^075 
1S9J0 1S9J0 undl. 
Open Ml. 1016N 


BRENT CRUDE OIL (IPE) 
u J. doliars per bqireHCM el IJN barrels 


Dec 

1642 

1629 

1641 

1140 

+ 114 

Jon 

1624 

1124 

1133 

1621 

+ 113 

Ftt 

1638 

1623 

1124 

1126 

+ 111 

Mor 

I6J1 

1119 

1119 

I62D 

+aio 

Apr 

1117 

Ills 

1116 

1116 

+ 108 

Moy 

N.T. 

N.T. 

N.T. 

1116 

+ 0J19 

Jon 

1630 

16J0 

1130 

1116 

+ QJI9 

Jlr 

1119 

Ills 

1115 

Ills 

+ 11$ 

Aog 

N.T. 

N.T. 

N.T. 

1620 

+ 115 

Sep 

1630 

1630 

1130 

1A|9 

+ 11S 

Od 

N.T. 

N.T. 

N.T. 

1121 

+ 115 

Nev 

I6J9 

1128 

1629 

1623 

+ 115 

Est. volume: 39400 . 

Open Inl. 152J10 


Stock Indexes 


LOW OoM Cbonge 


High 

FTSE IN ILtFPE) 

OS per index POM 
Oee 30650 302TJ 30300 -110 

6801' N,T, N.T. 30510 —HO 

Est. volume: 6294 Open int.: 57J11 
CACa (MATIF) 

FF3N per index point 
Oct 1865J0 183720 183820 

MOV 187320 1B(7N 

18BU» 185450 1^20 
189IUI0 I09D20 708020 

N.T. N.T. 186520 

ifioiio 1B9&S0 isam. 


Dec 

Mar 

Jon 

Sep 


■ 11W 
-11N 
-1320 
-1320 
-1320 
•1528 


Est.velvme: 37,749. Open Inl.: 64819. 


Jpurcfx: MaUt. AssoeleW Pms. 
ImOoh Ian FtnaneM Futureo BmHohoo. 
Inti Petroleum Exeitonge. 


Dhridanda 


Per Amt Rec Pov 


Am IsdMtgIvGS 
AmlsdMiglvae 
CapRItylvTxExlll 
Creu Thnb Ritv 
Ellswemi Cony 
Fermion Bos Ritv 
SanJuan Bos Rttv 
Slorope Eoullles 


IRREGULAR 

- .12 
.13 
.13 


e-Mclvdee 2261 cop pains. 

STDCK 


, .iia 

C .366 
- 2371 
. ,0278 
22 


1G31 2-1 

10-31 3-1 

1001 2-U 
1001 11-15 
11-1 11-9 
1001 11-15 
1001 11-15 
12-IS 1201 


York Find 


.10% 11-7 11-15 


REVERSE STOCK SPLIT 
ComCentral Carp I lor 25 reverse tpMt. 
INCREASED 


AlHMCoru 

O 

.94 

Arch Don MW 

0 

03X 

nnmlnlnn Pm 

o 

445 

Hithcore RltvTr 

o 

44S 


A 

28 

PECO Enorev 

O 

405 

REGULAR 


Allied Grp 

Q 

.15 

AmisdMtalv;86 



AmerNotl SvoBk 






Block8.Decker 

Q 


Cod RifylvTxExI 


JE 

CoaRlIVlvTxExll 

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12-6 1-0 
11-4 11-28 
1M 12-30 
11-1 11-15 
11-9 11-33 
114 13-U 


Comstk PtrStrolA 
Oonenol Gre 
Fd Colonl Grp 
Fst Source Corp 
Rrdor Cerp 
Fooler Wheeler 
Fuller (HBI Co 
Great Bov Bkahs 
Grenodo Sunbstsvs 
Home BenefldolB 
MardmliBlldey 
Merrill Lvndi 
Nortollc Souttiem 
RSFIndCp 
SJWCerp 
Sea Contolner^ A 
Shellon Bcp 
Std Meter Pmd 
Std Reolder 
UNSL PMcl 


WIimMeion Tr 
York Rrid 


29 

-17 

.11 

JO 

.105 

.la 

.125 

2D 

20 

.15 

23 

M 

.15 

J2S 

.1925 

.15 

28 

.17 

25 

27 

.15 


1M3 IMO 
1001 2-1 
1001 11-16 
1001 11-14 
13-16 1200 
1001 3-1 

10- 31 3-1 
1001 1041 
IG37 11-10 

11 - 10 11-21 
11-4 11-15 

1O0I IMS 

11- 15 13-15 

1D01 11-10 

11-3 11-10 

12- 15 1-2 
11-18 124 
11-30 12-14 

11-4 11-33 
11-4 12-10 
11-1 11-15 
11-1 12-1 
11-4 11-21 
11-2 11-15 
11-15 1M 
11-H 120 
11-10 12-1 
11-1 IMS 
11-7 11-15 


U.S./AT THE CiOSE 


Travel Units Bolster Amex Profit 

NEW YORK /Bloomberg) — American •&j:)ress Co. said 
Monday fro® continuing operaiipns 

perML lo S369 million, amid growth in us travel scmces 

and Hnancial service divisions. — iiiiAn i vear earlier 

The company had net earnings jW20 milhon a yeai^^. 

when Ame^cJ Express still 

American Express said earaings m its travel services division 

rose 13 percent, to $264 milhon . 

USAir Posts Loss on Hat Revenue 

ARLINGTON, \'iiginia (AP) — USAir Group Inc. siud 
da^VlSses widSlighUy in the third 
mired by an unexplained airlmer crash near PUtsburaiL 
USAir posted a loss of $180.1 million. 

$177.6 mffion a year earlier. Revenue ^ 

USAir conceded earlier that the Srat 8 crash had cost it bo<^gs 
but said that by the end of the month sales were recovering. 

oa Companies Beat Ejqiectations 

NEW YORK (Reuiere) — Major U.S. oil comp^K reported 
unexpectedly strong results Monday because of robust chemical 
markets timt largely offset weak natural gas prices and poor 

reftnina maisins. _ «, 

• Exxon Corp. said third-quarter profit rose to $1.16 bunm 
from $1.05 billion a year earlier. Revenue increased to $*9.56 

billion from $27.92 billion. , „ , ^ . 

• Amoco Corp. said its third-^pianer profit feu 14 percent, to 

$445 miUion from $520 million. Excludii^ a and a 

gam last year, Amoco’s net would have risen to $4^ imllion frmn 
$446 million. Revenue rose 10 percent, to $7.78 bilkoa 

• Ashland Oil Inc. said its fourth-quarter profit f«l 9 per^l to 
S6I million, while sales rose 9 percent to $2.88 billion. Fot its ^ 
financial year, Ashland said its profit rose to $197 rmlliM from • 
$142 mininn Sales rose to $10.38 billion from $10.26 billion. 

Highar Prices Buoy Caterpaiar Sales 

PEORIA, Illinois (AP) — CaterpUlar Inc. said Monday its 
third-quarter sales surged ttwvngh prenit fell 44 percent from a year 
earlier, to $244 mfllion. Fa ming s in the 1993 period were inflated 
by a one-time tax adjustmenL^ 







'deluding the prenous year’s extraordinary gain. Caterpillar’s 
■ reflecting a 23 percent 


profit in the quarter more than doubled, „ — jc- c ” 

rise in sales. Ine company said increased market share and higher 
£$. ‘Hie share rose $1,875 to SS8.25. 


' *1 ; 


prices helped earnings. 

fla pital Qties/ ABC Earoings Surge 


NEW YORK (Bloomberg) — G^ital Cities/ ABC Inc. said 
Monday that third-quarter earnings jumped 71 percent, led by a 
surge in advertising at its flagship ABC television network. ‘ 

Net income rose to $133.7 rnilli on from $78.3 miUioiL Revenue 
climbed 12 percent, to Sl.46 billion. F.arnuigs from broadcasting 
rose 67 percent in the quarter, to S2I2.9 million. 


For the Record 


Beatrice International Beefs Up Balance Sheet 


Affinnesota Mmuig & Manufacturing Co. rq>or^ that third-- ' ^ 

quarter earnings rose 8 Mrcent, to $341 million, citing increased 
^es and improv^ productivity. (AP) 

Scott Paper Co. agreed to sell its energy operations complex in ^ $'• i 

Mobile, Alabama, f(v $350 million to a unit of Southern Co.; the Jj A.'-' lAl 
c fwnpany said it planned to sell more assets to focus on consumer - J * 

products. (Reuters) . ^ 

Uidtm f^amp Corp. said net income rose fourfold, to $21.7 ..i: 

million, in the third quarter as demand for its linerboard and ... i, 

container products increased. (Bloanberg) 


WMkMid Box Offloo 


By Lawrence Malkin 

InlemaiioHat HeraU TnhuKtf 

NEW YORK — Another one of the big 
buyouts of the 1980$ cleaned up its balance 
sheet Monday when TLC Beatrice Inter- 
national Food, which runs France's Lead- 
er Price discount stores. announL'ed a sev- 
en-year loan of 545 million French francs 
(SI07 million) from a syndicate run by 
Banque Paribas. 


The company, which operates in Europe 
' '* : lar^t biack-oivned business in 


and is the lari 
the United States, was created in 1987 


when Reginald Lewis raised $900 million 
to buy out Beatrice Foods. The company is 
now the leading distributor of dry grocer- 
ies to supermariiets in the Paris ar» and 
manufactures and markets ice cream and 
potato chips elsewhere in Europe. 

Its debt was reduced to $154 million as 
of S^L 30 from the sale of subsidiaries 
and internal cash flow, and much of this 
was consolidated in the new medium-term 
loan. A further 100 miltion francs in subor- 
dinated debt is being taken on bv First 
Britannia, a European investment fund. 


Mr. Lewis died early In 1993. After a 
period of internal corporate tuimoi], his 
widow, l^ida, became chairman early tins 
year. Capitalizing on the rapid ^owth of 
Leader Mce stores from thrm units to 165 
in four years, Mrs. Lewis, a law-yer, reorga- 
nized tfie company. 


The AssoeuOed Preai 


LOS ANGELES — ‘^Pulp Fiction” dominated 
office again with a. gross m $8.08 million over 
Following are the top 10 mcmeymakers, based on 
sales and estimated sales for Saturday and Sunday. 


the U. S. box 
the weekend. 
Friday ticket 


The third-quarter earnings of the pri- 
vately held company will be released at the 
end of the week, and a company spokes- 
man. without providing details, said, 
1; they've gon 


“They’re good; 


gone up. 


I.TulP Fldtm* 

tiMrematO 

SlMmillloa 

ITbeSpedullsr 

(Warner Brothers) 

111 million 

I'Tjvo Affair 

iWamer Bratberg) 

s&rmnnpn 

ll-inieGtanls’ 

(WanmrBrolhen) 

SUmliitan 

I’nmeRhmrWthr 

(UMversufJ 

UZmiiUen 

1 ”T1W PuPPtI Mestors" 

(HDifywnxf Ffefunw) 

$4 mllilen 

7. %Ves Craven^ New NWofmore' 

rMrwLAirCAema/ 

ssjramion 

1 "Only You” 

(TrtSlarJ 

SCTSmlllien 

9. "Forrest Gump" 

(Paramoimi) 

sZJmHHon 

11 "The Showshonk Redemption" 

rCofumMoJ 

03.15 mtuton 




WORLD STOCK MARKETS 


Agentt Reece Fiew Oa. 24 
CletePrev. 


OenPrev. 


Amsterdam 


ABN AmroHW 

040 

020 

ACP Hewing 

3in 

36 

**pen 

l|M4e 10320 

AhoW 

4110 

4750 

Akzo Nobel 

20220 30240 


6940 

0JO 

Bois-weseoncp 



eSM 



OSM 

mnsnrji 

EisevWr 

1620 

IIX 


1520 

1130 

Obt-Braeodei 

44.x 

4440 

HBG 

200 

304 

Hcliwken 

SMie 231M 

Heeeevens 

76 

7520 

Hunter Douolos 

74 

7150 

iHCCownd 

43.10 

43.10 

intei Mueller 

9250 

9* 

Inl'l Nederland 

7720 

77J0 

KLM 



KNP BT 

4UO 

4040 

KPN 

5240 

EEI 

Nedilovd 

■n?! 


Oce Grlnten 

7240 

73 

Pokhoed 



PhtllP5 

5220 

5240 

Polygram 

7140 

7120 

Reeeco 

112J0 HIM 

Rodomco 

0 

5350 

RoHlKO 

115 IISJO 

Rerente 

82.40 

■220 

Rovol Dutch 


Stork 

44,10 

44.x 

Unilever 

199.10 

m 

ven Ommeren 

46 

4520 


Rhelnmetall 

Scherlng 

Siemens 

Thvssen 

Vino 

vtba 

vsw 

vieo 

Vouawagen 

weiio 


ZTOJDZTOLSO 
96995050 
61720 6U 
282JD280JD 
3I33MJ0 
498 SOS 
379 JQ 379 JO 
448 N461J0 
434433J0 
1030 1015 


177 17620 


VNU 

Woltors/Kluwer 131J0 131J0 
EDE bNlex ; 40IJ3 
Frevtops : 39tJS 


Brussels 


Almenll 

7380 


Areea 


ca 

Borco 

2450 

74TC 

BBL 

4150 

4163 

Bekoert 

r- — r~n 

CSR 








CoCPerlll 



Cobepo 



Coinni 

XIO 

71X 

Deinolze 



Eiecirobel 

54M 

S49II 

EleeirDflno 



Penis AG 



GIB 

IMO 

IBJ 



■TTtl 

Cevoen 



Gtaverbel 



immobei 



Kredletbenk 

6160 

6140 




Petrolino 



Petrerfln 

3930 


Reciicei 



Revele Betee 



SocCen Boneue 

7330 

74X 

Sec (Ten BelgWue 

21U 

3145 

Sofino 


Seixv 


Tessenoerlo 



Troclebel 

98X 

97X 

UCB 


Union Mlnlere 



Wagons Lits 

6500 

6500 

stocii ExchoAK: 

Preyleut : 71051 

n4U8 



Frankfurt 


AEG 

Alcatel SEL 
Alllons How 
Alfono 
A»Lo 
BASF 
Bover 
Bor. Hype bank 


149151 JO 
280 3K 
2239 2253 
638 629 
8I2JD 035 
3Q5J0303JD 
34170 341J0 
»i 390 


Bsv VereliHbic 0080 436 


BBC 
BHP Bonk 
B.MW 


670 660 
291392J0 

7S9762J0 


CemmerMenk 313J0314JO 


222 n 
749752J0 
453 448 
229 227 JO 


Contineniol 
Daimler Ben: 

Deeusse 
DiSoPcock 
Deutsche Benk 2^20 735 
Oouam 494 495 

Dresoner Benv 393J03917Q 
Felomifchie 300 300 
FKruppHOeSCh I94I93J0 


Horoener 

Henkel 

Hochttot 

Hoechsi 

Helzmonn 

Horten 

IWKA 

Koll SaU 
Koniodt 
Kovtnoi 
KHO 


310 310 
S78J0 SM 
935 943 

316313.70 
793 W 
.'OSJD 205 
33850 312 

I56I52J0 
614 615 

S04J0 sn 

i24joinjo 


Kloecknerwerke 130 138 


LinOe 
Luttfwnsa 
MAN 

Momevnonn 

MetbiigeieM 

Muench Rueek 

Fprscfte 

FreuMog 

PWA 

RWE 


877 060 

18618190 
397JD 197 

38050 377 
15850 163 

2795 2805 
640 643 

44344150 


^5022850 


450 45550 


Helsinki 


Amer-Yhtymo 

in X5D 

Ense-Guixell 

43 

4350 

Huhtameki 

144 

143 

K.O.P. 

040 

171 

K>^Mmeiie 

ia 

m 

Metre 

141 

143 

NokW 

Ml 

6X 

Pehieto 

X 

X 

Repola 

9650 

W 

Steckmenn 

360 

7S2 



Hong Kong 

BkEoatAslo 33 33 

Cottav Podilc 1120 lIJS 
OwungKofig 36J0 36 

Chino Light Pwr 8950 89JD 
Dairy Form mn lOJO lOJO 
Hono Lung Dev 13.45 1350 
Hang Seng Bonk. 5125 5550 
Henderson Land 4850 4850 
HK Air Ena 29J0 29,75 
HK Chino Gas 14JD 1425 
HK Eleerrlc 2190 2U0 
HK Lond IBJD 18.90 

HK Realty Trust 1880 1855 
HSBC Holdhios 90 9025 
HKShgnaHtis 1040 lojo 
HKTetecomm 1170 1165 
HK Ferry 10.70 ION 

Hutch Whempoa 3450 34.10 
Hyson Dev 2010 1920 
JoroineMoth. 6125 6175 
JerdlrMSfrHM 2955 2955 
Kowleen Motor 14,90 1450 
Mandarin Orient 955 9JS 
AAlromor Hotel 1070 19.10 
NewWorMDev 24JD 2455 
SHK Props 5650 5675 
Steluv X10 3.15 

Swire Foe A 5575 5475 
TgJ Cheung Pros 1010 10.15 


TVS 
Wharf How 
WheeloekCa 
Whs On Co Inti 
WInsor Ind. 


4.15 4.15 
29JS 2975 
1655 1640 
10 1005 
1025 mo 



OeopProv. 

Forte 

329 

2J3 

GEC 

221 

280 

Gem ACC 

4.55 

558 

(Hoxo 

S.X 

SJ0 

(SraWMet 

4 

425 

GRE 

10 

IJI 



6eQ 

GUS 

caa 

<« 

Henson 

a 

223 

Hlllwlown 

159 

1.x 

HSBC HIdgs 

720 

7JB 

ICI 

113 

114 

incheoee 

421 

617 

Kingfisher 

4X 

4JI 

Lodbroke 

150 

150 

Land Sec 

104 

621 

Loporte 

195 

707 

Losmo 

150 

IM 

Legal Gen Grp 

424 

634 

Lloyds B(mK 

542 

S45 

Marks Sp 

4J5 

420 

MEPC 

425 

428 

NolT Povier 

425 

680 

NOlWest 

456 

450 

NtKWsIsvoter 

U9 

5M 

Pearson 

S9S 

623 

PAD 

5.f7 

.4.0 

Pllklnoton 

123 

151 

PowerGon 

558 

551 

Prvdtnilol 

321 

323 

RonkOrg 

AI4 

611 

Recklii Col 

S27 

529 

Redtand 

450 

665 

Reed Inll 

743 

745 

Routers 

451 

451 


923 

976 

Rolls Revee 

123 

123 

Rpthmn (unit) 

612 

613 

Rovol Scot 

421 

610 

RTZ 

166 

861 

Sdlnsburv 

328 

353 

SeetNewen 

522 

A17 

Scot Power 

IM 

350 

Ssors 

1JI7 

120 

Severn Trent 

550 

541 

Shell 

721 

7 

Siebe 

523 

115 

Smith Nephew 

1.43 


SmlttiKllne B 

610 

630 

Smith (WHI 

654 

455 

Sun Alliance 

asa 

325 

Tote a Lyle 

615 

618 


*r» 

283 

Thorn EMI 

927 


Temklns 

225 

227 

TSB Croup 

£24 

9*9 

Unilever 

lUI 


Utd Biscuits 

821 

3 

Vodafone 

223 

224 


4181 

40X 

Wetleomp 

60 


WbUbreod 

551 

148 

williams Hdps 

3J4 

186 

wmis Correon 


153 


Johannesbuig 

AECI 
Aitech 
Anglo Amer 
BorlOMS 


2750 27.7S 
in IN 

23750 239 

3150 32 

NA 1085 
51 SZ50 
101 10070 
6650 67 

1575 1475 
12612550 
42 4175 
3275 3275 
70 7050 
3150 32 

4450 4750 
II67S 115 
9375 93 

49 52 

3675 3775 


Prevk 

FT-5.e IN lHdex_ ; 3Bf.lO 
PrevkMH ; 302180 


Madrid 


BBV 3190 3165 

BCD Central HIsp. 2025 3020 
BamSMtander 49N 4920 


Blyvoer 
Bufiels 
De D ea r s 
PrteWriitc fa i 
Cencor 
6FSA 
Harmony 
HignveM Steel 
Kloot 

NetStonk Grp 
Randtonleln 
RtBPlat 
Sa Brews 
St Helena 
Basel 

WNiom Deep 
Comi 
Prerl 


London 


Aboev Noil 

610 

607 

Allied LYons 

523 

AX 

Arle w^ins 
Arorli Group 

347 

346 

245 

24S 

Ass Bril Foods 

526 

S28 

BAA 

S 

523 

BAe 

447 

40 

BonkScoHond 

I.X 

201 

Bordoys 

171 

5.R 

Boss 

520 

SJ7 

BAT 

629 

429 

BET 

125 

124 

Blue CIrae 

253 

255 

BOC Group 

IX 

622 

Boats 

SJ1 

SB 

Bowoler 

445 

442 

BP 

4.10 

426 

BrltAInravs 

189 

176 

BrItGos 

253 

351 

Bril Steel 

159 

159 

BNt Telecom 

855 

354 

BTR 

353 

320 

Cable Wfro 

4 

422 

CodbvryScn 

638 

40 

Corodon 

240 

174 

Coots viveiio 

1.x 

i.n 

Comm union 

527 

S2b 

Courtaulds 

636 

440 

ECCGrouo 

A86 

M9 

Enterprise Oil 

in 

325 

Euroturxiel 

223 

212 

Flsem 

1.15 

1.19 


860 862 
3150 3160 
ION 1045 
5590 5570 
147 ISl 
019 817 
3800 3080 
3135 3435 
I6B5 1690 
sieeK Sx^OTKinagii ! 29137 
prevnis : 29359 


Bonesto 

CEPSA 

Drogodos 

E ndeso 

Erems 

Iberdrolo 

ReM 

TODMlero 

Teletonico 


BenkMpnrrgai 
BCEMoMleCom 
CdnTireA 
Cdn Ulil A 
Casc odea 
Crownv Inc 
CT Finn Sve 
OosAMtre 
CtWgstUfeco 
Hcesinnscp 
Hudson’s Boy Co 
ImopcpLId 
invgstorsGrpInc 
LaboH (JohnI 
LcbtowCoi 
MoisenA 
Noll Bk Conodo 
OshowaA 
Penedn Patroim 
Fewer Cerp 
Power Finl 
OuebecorB 
Ropers Cenwn b 
R pval BkCdo 
Smis Conodo Ine 
Shell CdoA 
Seutham Iik 
S lelce A 
Trllen Pljil A 




1 

U 

Frev. 

24se 

Mv 

40 

40'A 

11% 

lIVll 

241i 

34'A 

e 

8 

17*S 

18% 

10 

18 

13% 

17% 

20% 

X 

13Vt 

1.1% 

26% 

76% 

30% 

37h 

16 

16 

21 

71 

0% 

71% 

31% 

?1% 

9% 

9% 

19 

19 

40% 

4||W 

low 

18% 

xw 

38% 

16 

16% 

19 

19% 

X% 

78% 

B'A 

8 

44 

44% 


16 

9 

9 

320 

a.x 

: 19310 


Paris 


Aeeer 509 530 

AJr Umlde 707 781 

AlCOtel Alsthom 47040 47150 


Axa 

Bancoire ICIel 
BIC 
BNP 

BouyguH 
Danone 
Correlour 
CCF. 

Cerus 
Choroeurs 
Oments Prone 
Chib Med 
Ell-Aoultnlne 
Euro Disney 
GcfL Eoux 
Hovos 

imetai 

Latarse Copoee 39850 392 
Leomnd 6650 67» 

Lyon. EOUk 44570 44370 
Oreol (L't 1052 1079 

L.VJVLH. on 811 

Motro-Hochette 10050 100 

MleHellnB 31970 91970 
Moulinex II55D 116 

PoribOS 334 331.20 

Peeiiinev Inti 158 156 

Pemod-Rieord 291.70 29aN 
Peugeot 778 781 

PInouli Print 99 960 

Rodlotoctinlaite S12 515 

Rh-Poulene A )2i50 12240 


339 239 JO 
506 49570 
694 611 

349 JO 24050 
515 521 
702 709 

2213 2211 
21021140 
10120 10190 
1205 1293 
365 36950 

36140 359.10 
670 650 

429 425 

4165041950 
553 560 


Milan 


AHeoBO 1S460 15325 

Aa^ollo 133» 12160 

Autestredoprlv I60i 1630 
Bco Agricoltura 2550 2535 
BcoCommerllol 2655 3635 
BcaNBLovaro I3imii860 
Bco PiB NDVOra 79n 7950 
BmcadlRenta 1560 1565 
Ba Ambroslorto 3960 3960 
Bco NOPOll liSB 1071 1068 
Benetfon 19615 19S60 

Credllo Itallono 1677 1665 
EnicheniAiig 3030 2910 
Perfln 
Fhiispe 
Flnans Apfoind 
FliHiwceanloa 
PondlorlaNa 
GoiwrollAssic 
IFIL 


itolcementi 

itgipoe 

MedWbana 

Monledlsan 

Olivetti 

Pirelli spo 

RA5 

RliMseenic 


1267 1267 
6135 6030 
9S10 9700 
T2SD 1245 
11078 lOfSD 
37600 37100 
S200 5le0 
10190 10070 
4690 4590 
nOlO 12730 
1225 1210 
1040 1825 
2290 2235 
18910 19090 
83U 82N 


Son Pooio Torino 9025 8850 

SIP 4070 3915 

9M6 4020 4110 

SnW bPd 1920 106S 

Slpnda 3S9N34en 

Stet 4495 430 

ToroAssic 32900 23000 


Montreal 


RoM. St. Louis 
Somfi 

Salnl Goboln 
S.ES. 

Sle Generule 
Suez 

Thomsoii-CSF 
Total 
UAP. 

Valeo 
CACWOlnduiNA 
Prevleos : 184229 


1405 1398 
347 340 

6» 639 
536 543 

567 566 

2319033350 
13140 13650 
31SJ0317J0 
I3I5D 13120 
20350 780 


Sime Singopere 

Sing AerosPDoe 
Sing Airlines fom 
Sing Bus Sve 
Sing Lond 
Sim Petim 
Sing Press fom 
Sim Shipblog 
Sing Telecomm 
Straits Steom 
Strolts Trocflra 
Tot Lee Benk 

Uid induslrfoi 


Closp 

'rev. 

Me 

1.16 

224 

72; 

14 

13.V 

925 

V4( 


9V 

350 

7.91 

n40 

76 3( 

24t 

7n 

320 

it: 

5.10 

111 

194 

4 

64e 

64/ 

150 

1W 

1S8D 

114( 

IX 

Z9t 




Stockholm 


AGA 
Aseo AF 
Astra AF 
Altos Copco 
S leclroiuk B 
Ericsson 
Esselle-A 
Handelsbank BF 


Investor BP 
NorsK Hydro 


6650 6750 
537 540 

16550 186 

9650 95 

375 371 

43450 433 
101 IN 
93 93 


1705017950 

36626550 


Phormodo AF 1X50 IX 


SondvlkB 
SCA-A 


II7II55D 
115 114 


S-E Boiken AF 45.70 4SJ0 


SkondlD F 
SkonskoBF 
SKF BF 
Sloro AF 
Treiieborp BF 
Volvo BF 
AHoersvoerlden : 187653 
Prevleos : 1I77J9 


12912850 
IN 150 
IM IX 
439 433 
11311050 
140 14? 


Sydney 


Amcor 
ANZ 
BHP 
Bml 

Beueelnvlile 
Coles Mver 
Cemolco 
CRA 
CSR 

Fosters Brew 
Goodmon FleW 
ICI Australia 
MogellQn 
MIM 

Net Aust Bonk 
News Coro 
Nine Melwerk 
N Broken him 
P oe Dunlop 

Pioneer infl _ 

Nmnoy Poseidon 223 225 
OCT Resources 122 121 
Santos 421 423 

TNT 22? 220 

Western Mining 8J4 B.X 
WestpacBonklm 4J9 4J8 
woodside 5.13 5.12 


175 050 
324 323 
20J6 3028 
136 359 
0.95 0.99 
4.13 4.12 
S50 S54 
18.96 1054 
42S 428 
153 1J3 
159 IJB 
10.90 1050 
151 150 
250 254 
1023 1058 
850 flJO 
350 351 
353 355 
4J>9 427 
3J9 3J2 


^{«nqr(g^:a3720 


Tokyo 


$ao Paulo 


BonosN 
Brodesco 
Brenrm 
Cemig 
Eleirebres 
HnitaKa 

Uohl 

ForonapQnom 
Peirotros 
Souza Cruz 
Telebres 
Teiesp 
Usiminas 
Vole RieDece 
voim 


1620 

1658 

9 

9X 

7.W 

110 

28028426 

7621 

8121 

363 

283 

350 

3X 

2S3 

305 

1126 

1121 

11721 

134 

700 

77M 

M 39.x, 

3X 

410 

133 

129 

159 

16/1 

185 

IBSl 


Sngapore 

AsIOPk Brew 
Cerebos 

aiv Developmni 
Cveie G Corrtaoe 
DBS 

DBS Lana 
FE bevkiBstan 
Freeer B Heav e 
Gt Eosm Life 
Hem Leora fpi 
I lKtKOPe 
Jurom sniovora 
Koy MWn J Copel 
Keppei 
Notsteei 
Neptiirw Orient 
OCBCfofelgn 
QMS Union Bk 
Oleos Unler> Enf 
Sembowom 


17 

115 

855 

1170 

11 

&IS 

7X 

1750 

3720 

480 

525 

UlO 

1.96 

1110 

128 

229 

1550 

7JS 

950 

1120 


lATO 

110 

ax 

11 X 

HUD 

S20 

7.15 

1750 

38.10 

458 

S5S 

1120 

1.96 

1110 

353 

351 

15 

7JS 

9 

n.x 


Akol Electr 
Asnhi Chemicol 
Apohi Gloss 
Benk of Tokyo 
BrWeestone 
Conen 

Casio 

Dal Nippon Print 1BX I8X 
Delwa HeuN 1350 I3X 
Doiwa Securities |40D mid 


431 423 

763 769 

I2$S 1249 
1530 IS3D 
1560 1590 
1770 T7W 
1260 12X 


Cloce Prey. 


animozu 
SMnetsu Owm 
Sony 

Sumitomo Bk 
Sumitomo Chem 
Sumi Marine 
Sumitomo Metal 
TolselCorp 
TakedoChem 
TDK 
Tellbi 

Tokyo Marine 
Tokyo Elec Pw 
Toppon Prlnttag 
Toroy Ind 
Toshiba 
Toyota 
YomolchiSec 
a:xm 

225: V 


/IS /IS 
3060 3050 
S7X 5810 
1810 10X 
555 554 

065 064 

343 3X 
655 656 
13W 1320 
4590 45X 
566 572 
1IX IIX 
3B30 28N 
140 1410 
761 763 

763 751 

2IE0 3110 
TSi 755 




Toronto 


171b 

8M 

19% 


Ablilbl Price 
Air Conodo 
Alberto Energy .... 
Aloon Aluminum 36Vb 
Amer Borrlcfc 34% 
Avemr 

Bk Novo Scoita 
BCE 

BC Telecomm 
Bembordler B 
Brotmlea 
Bruscon A 
Comeco 
CIBC 

CdnNoturoi Res 
Cdn OceWPet 
Cdn Pacific 
Coseodes Paper 
Comlnco 
Consumers Gas 
Dotaseo 
Demim indB 
Du Pool Cdo A 
Echo Bov Mines 
Empire Ca A 
FeJeonbridee 
Fletcher Choll A 
Franco Nevooo 
Guardian Cop A 
Hemie (SoW 
Hershoffl 
Imperial on 
inee 

IPL Eiwroy 
LoMtowA 
Loldlow B 
Laewen Group 
London Insur Go 
Mocmill Bleedel 
Moono Inti A 
MopteLeotFds 
Meora M-v 

Newbridge Nelw 40H 
Horando Iik 
N erondo Feresi 
Norcen Enerov 
Nthem Tetecem 
Neve 
Onex 

PetreCimada 
Placer Dome uzn 

Pohtyi Cent sosk 47W 


24% 

26% 

47% 

25% 

31% 

405 

19% 

29% 

31% 

16 

31% 

21 % 

7 

25% 

16% 

23% 

12% 

19% 

17% 

13% 

23% 

17% 

82% 

0% 

14% 

31 

49% 

40% 

30% 

10 % 

10% 

33% 

22 

10% 

47% 

11 % 

35% 


17% 

8 % 

19% 

37% 

34% 

24% 

26% 

47% 

25% 

21 

359 

19% 

38% 

31% 

16% 

31% 

21 % 

6 % 

36 

16% 

32% 

12% 

19% 

17% 

13 

33% 

17% 

82 

8 % 

14% 

30% 

45 % 

40% 


U.S. FUTURES 

Via AMoomtei Rm 


Oo. 24 


26% 

11% 

17% 

49 

13% 

13% 

11 % 

32% 


Fonuc 
Full Bonk 
Full Phex 

PUIItSU 
Hitachi 
Kltochi Coble 
Hondo 
HoYoKodo 
Itochu 

JOPOn Airlines 
Kellmo 
Komol Power 
Komgsakt Steel 
Kirin Brewery 
Komatsu 
Kubota 
Kyocera 
moisuEleclnos 1500 1580 
MOlSu Elec wks 1050 1060 
MllsueishiBk - -- - 
MItsub Chemical 
Mitsubishi Elec 
MiKuDlsni Hev 

Mitsubishi Cerp 13X 1 

Mitsui and Co 053 053 
MItwl Morirw 
MllsuhDShI 
Mitsumi 

HEC ... 

NGK inswlQlers ICQO 10X 
NikkoSeeurliies liio ilN 
NtapenKogofcu 
Nippon on 


4700 4680 
3150 2160 
2280 2290 
1080 lOX 
997 990 

BSO 857 
I7X 174 

5340 son 
744 743 
73» 736 

951 953 

2W0 3650 
4-12 448 

1160 1150 
399 S«f 
730 720 
n90 7250 


3450 3460 
556 565 

720 713 
764 TH 


76J 748 

963 964 
1400 1440 
1300 12X 


Nippon Steel 
Nippon Yusen 
NIsson 
NemuroSec 
NTT 


485 995 
6BS 689 
3H 390 
651 648 
846 053 

20n 1990 
89000 89500 


Olympus Optical lOX 11M 

Pioneer 330 2SX 

Ricoh 940 940 

Sanyo Elec 583 SX ■ 

Shorn 1790 1800 fl 


Pravieo 
PWA 
QuebPCdr PrWf 


5% 

061 

14% 


Renolssonce Eny 28% 
PtoAJeem 
SeooramCo 
Slone Consold 
Talisman Eny 
TeieoWBe 
Tehs 
Thomson 
TorDom Bonk 
Tronsalta 
TrorsCdo Pine 
Utd Dominion 
Uia wesiburne 
Westcoosl Env 
Weston 

Xerox Canada B 
TSE3N. 

Prevlees 


26 

41% 

16% 

27% 

16% 

16% 

16% 

28% 

14% 

17% 

26% 

10 % 

21% 

41% 

48% 




10% 

10 % 

U% 

22 % 

10% 

40% 

10 % 

35% 

40% 

26% 

11% 

17% 

48% 

13% 

13% 

11 % 

sm 

47% 

5% 

% 

14% 

28% 

M% 

40% 

16% 

27% 

16 % 

16% 

16% 

20 % 

14% 

17 % 

25% 

10% 

21% 

43% 

49% 


Zurich 


AdlOIntIB 315 214 

Alusulsse B new 642 636 
BBCBrwnBovB 10X 10BB 


CBio GelovB 
CSHoWtaNB 
EMdrow B 
Fischer B 
interdlSGiiunt B 
JelitMii B 
Londls Gyr R 
Meevenpick B 
Nestle R 
OeHIlLBuehHeR 
PorgcM Hid B 
RecMHdpPC 
Sofra Republic 
SvidPzB 
Schindler B 
Sutler PC 
Surveillance B 
Swiss Brtfc Cerp B 
Sxxiss Relnsur R 
Swissair R 
UBSB 

Winterthur B 
Zurich Au B 


737 730 
536 537 
331 333 
1465 140 
1975 1955 
OX 056 
730 740 
395 3B5 

IIX 1165 

ia 128 

1475 1475 
5610 5565 
99 98 

650 646 
TON eon 
064 860 

1765 1750 
367 368 
725 717 

84 830 

1250 1339 
644 627 

1181 1107 


SeoMn Srasoi 

H 9 h LOW Oecn 

Kgh 

Low 

Close 

On 

00.10 


Grains 





rbinliH 



618 % 


406 

197 ''. 

424 

-AD 4 *i 

30.214 

ij*% 







IW'* 



181 

191 ', 

. 027 >u 

6 IS 

leP. 


356 v: 

35 D 

354 

* 023 % 

9551 

161 

li 1 viSeo 95 154 

351 

356 

1 G 

*022 

SI 

175 

355 Oec 9 S 344 

3 0 '; 

163 '.} 

10 


137 

IM'i* 




326 

> 023 % 

4 

Est Whs aJOO Fn*s. soles 

10.70 




FrrsopfniN 75.731 01 X* 





WHEAT IK 80 T> S 4 OPhim 0 vrrMr*.MVtP«'bk 8 lM 










427 ', 


4 . 17 % 

606 % 

617 '* 

.A 06 % 

12.853 

403 

UUiMovOS 184 

1*5 

355 

195 

-OJSVi 

1233 

IM'-. 

1 I 6 '^JUI 95 357 

160 

156 

350 

- 022 % 

3.577 

327 

129 Sep 9 S Ul 

Ur.'i 

161 

UIV; 

. 021 ''. 

X 

169'6 

U 0 hDK 95 



168 '/i 

.OJI't 

4 

Esi.Mles NA Fri's.saies 

1955 





Frl'sePenM 3 MI 7 01 98 










2 . 13 '. 4 Dee *4 2.14 

117 % 

1131 '} 

117 '* 



<ini,Mnr«* 194 

1 »% 

134 % 

IVA 

' 027'6 02 n 

U 5 

2 J 0 '-tMav 95 223 % 

187 ' i 

2 J 3 '.i 

326 % 

.AOZ'* 21145 


USV.J 095 140 

143 ’. 

138 % 

Id'll *023 

205 X 

720 % 

189 Sap 95 145 

10'6 

144 

10'4 

* 021 % 

2560 


13 S' 1 Dec«S 150 

797 

149 % 

251 % 

> 020 % 12.657 






-021 


US 


US 

264 % 

165 

-021 

3 H 

Ests 0 <s anw Fn*s.s 0 es 

3670 




RTsoPinint 748248 IP 2734 







70 ''j 

SJ 6 %t«v 94 A 45'.9 

153 % 

143 

553 

. 024*5 S.II 9 


50 ''. Jon 95 557 

154 % 

151 % 

S 54 '.« 

. 024 '.. 3 M 92 


SM'tMorys S 5 SW 

175 

565 

134 % 

. 024 % 21275 


556 MOVK& 74 V, 

553 

133 % 

182 % 

. 024 % 102/4 






- 0 . 01 % 16126 


SAiWAusTS 524 

IX’.I 

683 % 

192 

.024 

1,134 

615 

ATI Seo 9 S 556 

5 . 91 -- 

526 

191 'k 

- 022 '% 

405 


678 I 7 N 0 VX 694 

627 

194 % 

421 % 

. 023 '* 

7500 


420 Jan 96 626 

627 V| 

426 

8271 * 

-OJI'y 

105 

621 

559 ' 4 Jul 96 



619 

. 021 % 

0 

Est. tales 55200 Pri‘s.s 0 es 

905 





PrTsoowiira IM .713 0 I 7 *S 





SOYBEANMEAL (CBOT 1 IMnm.eoiwsBc 





160 J 0 OKM 16 ia 

I 66 M 

10 M 

I 66 X 

.|.M 4 . 9 K 


l 4 I.XJan 95 I 44 JD 

14650 

16320 

16180 

-020 17239 

30750 

166 X 640795 1050 

10 .x 

10.10 

IMJO 

.IJO 16238 


l 0 M 66 av 96 1 X 60 

ixn 

17 D 50 

17180 

. 0 .x 

7,910 


IXnJul 9 S 17650 

I 76 X 

174 M 

11650 

-IJO 

7.70 


IXOOAubX 17650 







ITlJOSeoX l* 9 J 0 

179.80 

iTsn 

I 79 X 

* 1.10 



T 75 M 0 O 9 S 17*50 

laiJO 

IXJO 

lai.n 

.150 

1141 


l 762 DDoeyS IS 2 J 0 

16420 

loue 

18680 


■14 

Est.sole 5 15200 Fn‘s.soies 

I 35 M 





Fn'soeenm 91174 uo lOS 





SOYBEANOIL CCftOT) * 0 OOQ «»- «qII«% bcp iflD tok 



2357 

2100 DK 94 2550 

3615 

7550 

2113 

• 017 83583 








:i$ 1 MorX 2645 

3665 

7680 

3452 

•025 13 . 1*0 


99 t«IUIM 4 < MAI 

7425 

a 9 s 

7433 

•AOI 



99 . 74 Jul 95 &N 

2605 

23 J 0 

at; 

*001 



B.QAIIBX 2123 

a 95 

ax 

a 95 

.023 

7.146 


K. 75 tef 6 an 

ax 

ax 

2357 

.AM 

103 





23.77 



2320 

2250 DeCW 



23.73 


1.092 

Esi. sales OJM Frt* 6 S 0 C 9 

17.040 





Frt'sopenM 85 . 41 * un 7071 






Livestock 




CATTLE (CMER) PJMifas- 

oitoccr to 




7610 

6 S.XOdH 6 U 2 

MM 

4850 

48.97 

.AlO 

400 

7420 

0 JODecH TOM 

TUt 

7023 

XI 5 

-023 

x. 9 n 



M 4 D 


49.17 



X 10 

0 J 7 Aer 9 S 49.15 

MJO 

4853 

69.12 



0 JO 

PMDJun 9 S *525 

6153 

6622 

6 <*? 

-AlO 

3525 

6110 

6160 Aua 9 S 6480 

44 n 

6480 

6455 

.AlO 

IJ 73 

055 

& 4 JDOaX 4 U 7 

4 SM 


414 

tAIO 

:« 


ItJD 





Ftt'SeewiWr M. 0 I tp IJX 





FEEDER CATTLE tOUBI) 

M«»B 4 .- 0 ntie«rB 



025 

X 950 Ctf 4 7175 

xn 

X 65 

7252 

•A 0 

1.226 

OAX 

7 l 7 SNevM 76 X 

7425 

7635 

160 

•OJO 

6 IX 

ao.fs 


rin 

74 J 2 

/ 65 S 

■ oa 

1541 

OOJS 


at* 

7250 

TUt 

• 0.4 

77 s 

76 « 


7120 

7 I.X 

ne 

>ox 

478 

76 JD 


711.4 

714 

710 

-083 

3 fl 

7105 


TIM 

7 i.a 

710 

-087 

n 

X 2 S 

MMSeow Ties 

X 92 

7025 

XX 

.OM 

0 

Est. 5 ai« 1.704 Fri'isoies 

1,974 





Ri'smniN 8.905 oH IS 






HCXiS 1 

lOMERl PDHM-efnnpprb 







310 

ais 

3020 

-A 03 

313 

5050 

J 250 Dec 94 aiO 

a 0 

ax 

310 

.ASS 

>6738 

JAN 


36 X 

3625 

3660 

'OJO 

7 . 30 / 



36 X 

36 J 2 


• 0 J 8 

6117 

050 

057 Jun 9 S 4150 

4125 

4125 

41 X 

•OJO 

1.746 



0 i; 

4180 

4117 

-Al* 

523 

4140 


41.65 

414 

41.0 

•OJD 

334 

4150 


ux 

EJO 

Jtn 

•017 

30 

412 




3*4 

■OU 

23 


6244 





Fri'SeBMIiM D. 9 U IP 09 









6025 

0 MFeeM 39.70 

41 10 

3980 

457 

.053 

B .70 . 



41.15 

3 * 40 

4 X 

-AX 

1.083 

61.15 

axiPevX 4150 

0.40 

450 

05 * 

>077 

3 S 

54.00 

025 JUIH 4180 

4 in 

41.75 



3 X 1 



4 I.K 

41 JD 


-080 

U 

M «iU. 9 «SJ Fri's. SOWS 

VOS 





Fn'seevnirt lOMi ip 340 





1 


1 SecBffi Seoson 


MM 




High 

Lew Open 

HiVl 

LOW 

Oese 

Chp 

Oo.lni 

Esi.saies 11502 Fr'i'ksoies 

9.833 





Fn-sooenkd 10.700 IP 1210 










l» 

l04lDae« 1322 

1837 

1305 

1330 

.13 27539 

1605 

1077MGr« 1369 

1382 

US 

I37S 

.9 21924 i 

1613 

lO*8MayX IMS 

1V7 

I3X 

IMS 

*9 

7.973 

1600 

1225 JulX 



109 

.9 

ion 

1540 

ISBISepH 140 

140 

105 

1456 

♦9 

1546 

1833 

inODecM 1465 

1465 

I4e5 

1409 

*9 

6910 



I4M 

IMS 

ISIS 

.5 

3,910 





ISO 

.5 

366 





1562 

.5 


Esl.s0es 5210 R+iseles 

11217 





1 Fn'soeeiiM 715SI cM 1339 





ORANCEJUS (NCTH) ISJOObs- 


b 



isin 

BinNovM 10150 

I0J5 

10100 

10185 

-XM 

4200 

13100 

MJOJanX I07JS 

HIM 

10J5 

109 JS 

-UO 11223 

12625 

dOOMirK IIAIO 

11600 

IIAIO 

IIIX 

-ajs 

5570 

13600 

02OMIIV9S 11150 


11350 

11620 

—220 

1597 






-1J5 

80 


I0J5S4PX ia« 

12100 


l»2D 

-&50 

SO 

12450 

I09JIONOV9S II9J0 

11950 

11950 

11950 

-150 

1,139 

1020 

10150 JenH 



11950 

-850 

482 


WvN 



II9J0 

-SJ5 


Est.s4es NJL Ri*Lsales 

3577 





1 Ri'sooenim 2SM9 oft 04 






Metals 




W GRADE COFFER (NCMXI 




laio 

7180OCIW 11850 

H9M 

iiasD 

1I9JS 

.050 

1.2U 

1I9J0 

77.75NOV98 



11125 

.120 

1291 

12050 

7175Dee94 111.10 

11885 

1I6X 

I17.X 

*055 0515 

II9M 

76XJan95 



117J5 

*A9S 

110 

IIT.X 

XIBFetaX 



11685 

.025 


IISM 





♦ 0LI5 


11650 

91.10 AM-9S 



11155 

•AOS 

456 

11618 

7455MayM II6X 

II6J5 



*tht5 


11165 

10610 JiinX 



II4J0 

.055 

00 

II6I0 

7B20JUI95 IIIIO 

IIIIO 

11110 

1I17S 

*055 

1J30 

1I1X 

niMAugX II3M 

H3M 

IIIX 

11130 

.AX 


iiin 

n.lOSeeX 11250 

11150 

11120 

11115 

.125 

1215 

11175 

OOJODeefS 1IAX 

HIM 





10020 

0050 JonM 



IIAX 



HIM 

OXMarM 














JulX 



10JS 

•125 


Est. soles 7200 Fry6 soles 

9.209 





FrfSOaenM 61533 Off 1219 





SLira 

(NOntO imoirarg 




5615 

SIIJOffH 



9U 










5972 

3002D9e«4 SAO 

5372 

5302 

5363 



4012 JonK 





74 

6060 

065MarK 902 

505 

5310 

50J 


8065 

0AOMoy9S 5415 

5492 

505 

S0J 



4102 

0AOJUIK 5510 

5560 

cnA 

5569 

*18 


6015 

5315 Sep 95 



SflJ 



6202 

g42DK« 5192 

5725 





6110 

06OJIPM 










OCA 

♦ IJ 









6000 







1 Bst.solM 11000 Fn's. tales 

9871 





1 Pn-soppilnt HIJ78 oH lO 





PLATINUM (MUau airwK-MersBwnira. 




34820OaU 0620 

42100 








42A0D 



09.00 

3902DADrX 43020 

0AOD 

430Jn 












422200095 J21M 

42100 

#Knn 





0950 JpiX 






t Est.sdes I.S33 Frt-6s0es 






1 Fn'scpcniffi 3600 eft ITX 





GOLD 


Ms, •• 





346oaoaw 3XJ0 

39030 






Nov 94 








39100 






89SM 

.IMG 




364JDApr95 3X20 

39020 

3X20 

3X50 



43850 

34lJ0Jun9S 40110 

40U0 

401 JD 



eM« 

41650 

30050 Aug 95 














eoOJODaeX P«ja 

4I4M 












0030 

41880 AerX 







41320 JWiX 













' SS>.5dn X8D0 Prt’s.tam 

1950 





Fri'scpwiin 10.292 up 230 






Food 


eOFFBEC INSE) v.yww.- 

»625 77.I0DKM IMKI 1 
ranMor9S wkOD : 
OZJOMmQS 1420 : 
B52DJUI95 19995 ! 
IBiaSepH 10150 : 
8120 Dk 95 

l9720Werf6 MM ‘ 

Esl.sAS 5515 FrI'SWIIB 1 
PH's men itu DJet up I P 
SUGAR-WOELOII (NCSE) 


14420 
14440 
MS 10 
238 00 
Ml 00 

am 


SBC index: NJL 
Prevlpus : 09459 


IZ56 

122 s 

12.7S 

1224 

1227 

1120 

im 


9l7Mat95 1225 
lOJ/MortS 1356 
wiwijit; ’IFI 
I057OCI95 12.15 
1028Mar66 11.80 
1i.i6n.iav96 

il.XJiHW 


168 10 

)X7S 

■ 1 n I3JD0 

lan 

m«s 

. iiD 

17 087 

19755 

70 75 

-i 10 

44K 

W.9S 

2010U 

•120 

I.S6I 

m.9S 

»S20 

• IS 

BO 


tOSJO 

-050 

844 

PDSO 

tUtt 

-OS 

IDS 

&-ewetPwfe 



1183 

1181 

■ Adi 

X.4R 

1249 

12 JD 

-001 a.779 

1253 

IIS 

-40 16X8 

IlM 

IlM 

—089 11937 

1150 

HM 

— OJU 

I./84 

H50 

— OJH 

0 


1150 

.MU 

5 


seoKxi Seoson 
Hioh Low 


Open tigh Low One dig OdJM 


15310 l5MMar9S 12226 123% 1.6220 1634 .51 

15340 IJOajuntS 15230 *9 

en.seies HA 13412 

Pri'sapenior 45.IX efl lO 

CANADIAN DOLLAR (CMm snrdr-levZvmuWsAOOm 
0J6X OJOaiDKH U4II 0J413 17309 aUOI -4 

017605 OTOSOMorfS 0J4D1 02X1 (L7a» 0J399 -4 

ftJfXJunOS 017390 173% 0.7385 ITON -I 

029655epr5 17375 17375 17375 17377 — / 

1704004095 17361 — t 

Mar96 17343 — 1 

Est.iales NA FHlsaiec 65M 
RrsopenM 30597 m ith 


467 

I 


17533 

07431 

07400 


JS4U 

1511 

764 

M 

63 

1 


*'Vi v;;«. 


■■ • f, 

SP 


ffiRMANMARK (OMBk) tmrmors-lBMVmaMllooai 
~ CM 16664 a«Q2 16650 02696 


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INTERNATIONAL k^RALD TRIBUNE, TUESDAY, OCTOBER 25, 1994 


Page 1. 


EUROPE 




Iberia’s Chief 


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Finn Faces 
Bankrupt^ 




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CMipHe^if Oir Sl^ From Di^aidia 

MADRID — Iberia Air 
lines said Monday it would 
banlcnipt by March 199S if it 
failed to strike a - deal with 
wtxters on mplementing a rad>- 
ical cost-CDtting plan to curb 
huge losses. 

^'Bearing in mind that during 
the first quarter of 1995, we win 
rnalf e a loss: by March we will 
be bankrupt, if we do not act 
befordiand,’' Juan Saea, the 
mana^g director, told the 
Spanish press. 

Theairime, which hada 1993 
loss cd 69 billion pesetas (SSSS 
o^on), is trying to get workers 
10 agree to average wage cuts of 
IS percent as pan of a lestruc- 
turiogplan. 

The Confederacion Sindical 
de Comiaooes Obreras and 
Unidn Gneral de Trabaja- 
drves, winch are rqiresenting 
the airline’s workers, said thw 
were ready to acoqpt avera^ 


wage cuts oi 7 pereent to Bper- 
cent a UGTomdal was q 


; quoted 




assaying, 
he 


^ •••t' tSTL 


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IcHinni 


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Sttffcrtt 1. " ■ . , 


T'Tk*,, 

k-ist 


The (^dal said those wage 
cuts would save Iboia about 10 
bfllion pesetas. He added that 
the unions were also ready to 
accqit a wage freeze for 1995 
and 1996 that would save the 
OMqiai^ an additional 15 bil- 
lioD pesetas. 

.UnioDS have threatened to 
strike next month if the compa- 
ny does-not pay 12 billion pese- 
tas it ows in b^ pay. 

“If we .dionot reach agreement 
ndth die workers, it win be essen- 
tial to irrqilement a traumatic 
rescue plan," which obuld in- 


clude asset sales, Mr. Saez said. 

As. pan of its restructuring 
plan, the state-owned carrier is 
also seeking job cuts of more 
than 2,000 from its work force 
of about 24,400, union sources 
said this month. 

The sources said Iberia ex- 
pected losses of about 44 billion 
pesetas this year. (Bloomberg, 
Reuxers, AFP, AFX) 

■ French AMines Protest 

Five small French airlines at> 
lacked the French government 
for ^otectmg the state-owned 
airli^ Air France, wMch is in 
severe financial trouble, Agence 
France-Presse r»oned from 
Paris. 

The airiines — Air Outre Mer 
SA, Air Liben^ TAT European 
Airlines SA- EAS and Air Atlan- 
tique — have formed a commit- 
tee fm* the defense of Froich air 
transport. 

Michel Marcbais, the presi- 
dent of TAT, said: “We are also 
part of Frend) air transport. It 
is not just Air France. We exist, 
and this must be known." 

He was speaking a few days 
before routes between Paris’s 
Orly airport and Marseille and 
Toulouse, which until liow have 
been a mon<^>dly of Air Inter, 
are supposed to be opened to 
competition. 

The European Commission 
in Brussels has ordered France 
to begin opening its air-trans- 
port market to competition, but 
France has appeal^ to the Eu- 
ropean Court of Justice, which 
is due to reply before Thursday. 


A New Form of Russian Roulette 


By Steven Erlanger 

A'ew YoHt Tima Semee 

MOSCOW “The Great 
Game" was what Rudyard 
Kipling called the long strug- 
de between the Russian and 
British empires over Central 
Asia. 

The great game these days 
is the struggle of the Ru»ian 
govenunent to get loans from 
the International Monetary 
Fund to b^ out its budget. 

The pattern, as Western 
economists and diplomats 
have come to understand, is 
for Russia to make plausible 
promises of fiscal and mone- 
tary discipline while citing the 
crucial importance of the suc- 
cess of Moscow’s economic 
transformation to the well-be- 
ing and peace of the world. 

It is a compelling aigumat, 
espedally when the atuation 
in Russia gets a bit shaky, as it 
has over the last couple of 
weeks. 

There was a sudden col- 
lapse in the value of the ruble, 
apparent tension between 
President Boris N. Yeltsin and 
Prime Minister Viktor S. 
Chernomyrdin, and the dis- 
miss of the acting finance 
minister and central bank di- 
rector. 


Russia Pledges Reserves 





Th« Associated Press 

MOSCOW — The new director of Russia's central bank 
pledged Monday to use all available currency' reserves to prop 
up the battered ruble. 

“Foreign currency reserves, of which the central bank of 
Russia is not the only holder, will.be used to defend the ruble 
rate," Tatyana Paramonova told the Itar-Tass news a ge ncy. 

The bank has spent billions of dollars this year to support 
the Russian current. It abandoned its policy of staying out 
of the market after the ruble went into a free fall ti^ month. 

Ms. Paramonova’s predecessor. Viktor Gerashchenko, re- 
signed under pressure Oct. 14 after the ruble plunged 21 

e ercent against the dollar in one day. The Russian currency 
as since r^ained most of those losses and returned to a slow 
but steady decline. 

On Monday, the dollar traded at 3,030 rubles, slightly 
stronger than Friday’s dose of 3,022. 

Since the ruble crash, the central bank and the Ministiy of 
Hnance reportedly have increased cooperation in an effort to 
stabilize the currency. The ministry also maintains sui^tantial 
fordgn-exchange hddings. 

According to central bank figures. Russia's overall net 
forrign reserves totaled $4.1 billion on Sept 1. 


There also is a bi^ backlog 


of unpaid wag« and debt be- 
tween companies. Inflation is 
rising, and a parliamentary 
confidence vote on the gov- 
ernment is coming up on 
Thursday. 

It is hardly surprising, then, 
that a team from the Interna- 
tional .Monetary Fund is in 
Moscow to look at the figures 
and n^tiate new loans, or 
that Lawrence H. Summers, 
the U.S. Treasury undersecre* 
taiy and Washington’s point 


man on the Russian economy, 
arrived here Sunday. 

As if on cue, the govern- 
ment, which has been feeding 
new inflation by issuing large 
credits all summer despite its 
promises to the fund not to do 
so. has just completed a draft 
budget for 1995. 

The new budget promises 
strict discipline — even strict- 
er than last year’s. Alexander 
Sfaokbin, a d^uty prime min- 
ister, calls it “a new ideology.’’ 
Mr. Chernomyrdin calls it “a 
whole new conc^t," promis- 
ing that “there will a tough- 
er line on economic reforms." 

The 1995 budget forecasts a 
deficit of 77.5 trillion rubles 
(about S26 billion). 8.4 per- 


cent of the estimated gross d<^ 
mestic product. 

Mr. Sbokhin, who also is 
the economics minister, told 
the newspaper Izvestia that 
the defirit would be financed 
through “noninflationary 
means” like Treasury bills, 
bonds and Western loans, not 
through printing money or is- 
suing credits. The budget 
forecasts inflation of about 1 
percent a month 1996. 

But politics can play havoc 
with ei^antly draftra budgets. 

The 1995 budget must first 
be passed by the lower house 
of Parliament, which will dis- 


cuss it Thursi^, the same day 


as the scheduled confidence 
vote. 


L^slaiors want to spend 
more monQ' for social, indus- 
irial and political needs, not 
less. And after the ruble fias- 
co, the opposition, which 
dominates I^Uament, is un- 
likely to be in 3 mood to help 
Mr. Yeltsin. 

The pasmge of a no-confl- 
dence motion would not de- 
mand any action of Mr. Yelt- 
sin now, but if a similar 
motion passes again within 
three months, he nnist either 
name a new cabinet or call 
new parliamentary elections. 

Even if the budget is passed 
in approximately acc^table 
form, there is no guarantee the 
govenunent will hold to iL 

The 1995 bud^t counts on 
some $8 billion in new* IMF 
and other Western credits. 
But fund c^dals said they 
were skeptical about big new 
loans. 

At a seminar here last week, 
the fund’s chief economist, 
Michael Mussa. said: “Until a 
cap is put on spending, there 
is no hope ot containing the 
budgetary situation. That 
needs to be demonstrated by 
the go\'enunent." 

He said he was concerned 
about the amount of Western 
money Russia seemed to be 
counting on, e\'en in such an 
austere draft budget, when it 
v/ould be better off improving 
its tax reedpts. 

But as the great game con- 
tinues, Western diplomats 
hint that the IMF in the end 
will come up with significant 
financing. 

“It's the same old prob- 
lem," one diplomat said. “The 
promise of money brings 
more disdpline rather than 
less, and Russia’s too impor- 
tant to let go down the drain." 


Investor’s Europe 


FranWurt 

OAX 



London 
FTSE 100 Index 

3«0- 



j“j 

1994 

A S O ^ M J J' 
19M 

A S O' 

^ M J'J 
1994 

A SO 

Exchange 

index 

Monday 

Oose 

Prev. 

Close 

% 

Change' 

Amsierclani 

AEX 

401.33 

399.65 

+0.37 i 

Bruasefs 

Stodc Index 

7,148.28 

7,157.91 

■0.13 ; 

Frankfurt 

DAX 

2,025,38 

2,022.32 

+0.16 ; 

Frankfurt 

FAZ 

787.86 

765 72 

+0.2fi . 

Helsinki 

HEX 

1,946.09 

1,944.53 

+0.08 ; 

London 

Financiat Times 30 

2,325.20 

2.33370 

-0.36' 1 

London 

FT^lOO 

3,029.10 

3.032 80 

■0 12 i 

Madrid 

Gmeral Index 

293.37 

393.59 

^.07 j 

Milan 

MiBTEL 

9,975.00 

9.849.00 

-126 j 

Paris 

CAC40 

1,841.59 

1.642 09 

•003 i 

Stockholm 

Atfaersvaerlden 

1A76.63 

1.877 70 

-0.06 

Vimna 

Stock Index 

418.81 

417.67 

+0.27 

&rieh 

SBS 

899,87 

894 99 

+055 1 


Sources: Reuters. AFP 


InU'iiiaii.'iuil IL‘r..lJ Irii'i 


Very briefly: 


• Norsk Hydro AS said that profit quadrupled in the third quarter 
from the }^r-earlier period, to 1.1 billion kroner (Slb9.4nullioii). 
as a rise in sales for land-based uclirities offset a decline in profit 
of offshore c^rations. 

• The German states of Baden-Wiirttemberg and North Rhinc- 
Westphalia issued cost-of-living data showing that inflation 
slow^ sharply in October from September. The rate in Baden- 
Wantembeig slowed to 2.6 percent annually from 2.9 percent, 
and in the other state to 2.7 ^rcent from 2.8 percent. 

• Banco EqnS^ de Cr6<fi(o SA said it posted profit of abv'tut 5 
billion pesetas in the third quarter, after a first-half loss of 21. S3 
biUion p^tas. A spokesman said the hank expected to come close 
to bretddng even for the full year. 

• Dme Warner Inc. is talking with Chargeurs S.-\ of Fr.ince aixiui 
a joint bid for a cable-TV ch^nel the French goxemment has put 
up for sale, according to a published inierxiew with an e.xecuiive 
from Time Warner. 


• D^roit IXesel Cotp. said it would purchase VW McMor SpA of 
Italy, a diesel en^e maker, for $125 million. 

BU^fiitK'n;, ki'iiiL'n, 4F.V, .A!' 




sail) 

rtf qux'i;: . 


i 


DIVERGENCE; WM and GM Take Different Roads to Recovery^ but IBM Could Find Helpful Signs on Autoniaker^s Route 


•S' 




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* * ' 




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Cl- 

c*- 

L'- 

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Coothwed bom Page 13 

they sound prepared for a 
len^y, sometimes bunq^ road 
torecoyeiy. 

“We’ve got a long way to go 
to' ^ this company tickLog 
aMtn,’* Jerome B. ’York, the 
^ef finandal officer of IBM, 
said. “We understand that’* 

In Detrmt OM executives 
clearly recognize they have 
much hard work ahem espe- 
cially after last wreefc’s setback. 

“Sometimes you take .two 
stqis ftHTward and take one step 
ba^" G. Richard Wagoner Jr., 
president of GM's No^ Amer- 
ican pperatums, said Friday. In 
the early going, be said, the No.' 


1 autoinaker benefited from 
some “quicker hit" savings. 
Now, as GM addresses struc- 
tural problems in the way it 
develop cars and trucks, the 
savings might not be apparent 
for years. “You don’t see the 
results from one day to the 
next," Mr. Wagona- said. 


In November 1992, GM se- 
lect^ Jdm F. Smith Jr., a 30- 
year cotrq>any executive, as its 
new president and. chief execu- 
.tive aft^ ousting.. Robert C. 
Stenqpd fear failing to brake the 


was an insider more in pedigree 
than in mentali^. 

.IBM went further afield 
when it chose Louis V. Gerstner 
Jr> who was chairman of RJR 
Nabisco Holding Corp., to 
take over the troimled comput- 
er fflant in April 1993. In Mr. 
Gt^tner. 52, the IBM board 
chose a classic general manager. 

Both chief executives cut 
costs with abandon. At IBM, 
payroll cuts had been made 


gradually since 1986, when the 
compan\'’s worldwide employ- 
ment peaked at 406.000. 

At the end of 1992, the pay- 
roll was down 25 percent, to 

302.000 workers, with stat^ 
plans to trim an additional 

25.000 or so. But Mr. Gerstner, 
working with Mr. York, went 
much further, trimming more 
workers and shedding plants 
and equipment. By the end of 
this year, the company’s payroll 


is expected to be down to 
roughly 215,000 people, about 
half IBM's record level. 

The current IBM cost-cutting 
goal is to reduce annual ex- 
penses by some $8 billion by 
1996. Mr. York said IBM had 
already achieved saltings of SS3 
billion a year, partially by set- 
ting cost targets based on the 
costs of its most efficient corn- 


costs by shrinking GM's em- 
ployment in North America b^* 


74,000 people, or 23 percent, 
IWl. Like " ' ■ 


peutors. 

At GM. Mr. Smith also cut 


since 1991. Like IBM. the auto 
company has used the produc- 
tion costs of competitors as tar- 
gets for its own cost-cutting 
program. 

GM has made some impres- 
sive strides. In 1991, the compa- 
ny posted a loss of S10.7 billion, 
before interest and taxes. Last 
year, by contrast, it made a 


$362 million profit — a swing 
that Fortune magarine hailed a 
few weeks ago as “GM’s $11 
Billion Turnaround." 

From 1991 to the be^nning 
of 1994, GM trimmed $2,800 in 
costs, before taxes, from every 
vehicle it made. Harbour & As- 
sodaies, a Troy, Michigan, re- 
search rum, estimated. 

The bad news for OM is that 
it is still far less effidenl than 
the indusny’s cost leaders. Thai 


explains why Chiysivr C^up. 
made S1.U0U on average on ev- 
ery vehicle it sold in the third 
quarter of this year, while GM 
lost $296. 


The third quarter is tradition- 
ally a soft time for the carmak- 
ers because it includes summer- 
time shutdowns of factories for 
maintenance and vacations. 
But with the economy strong. 
Chrysler reported a S651 mil- 
lion profit m the third quarter 
and Ford Motor Co. is expected 
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7 Page 16 


lIVTER>’ATIO>'AL HESL4LD TRJBI NE. Tl ESDAY. OCTOBER 25, 1994 




Bfomihcrg Biistut>s Vo» ' 

TOKYO — Pioneer Electronic Corp. plans lo provide 
about S8 million in fresh financing to Carolco Pictures Inc. to 
enable its ailing Holi^ood movie affiliate lo continue muk- 
jng pictures, Pioneer said Monda>. 

Pioneer said Carolco. whose hit movies have included 
‘'Basic Insiinci” and '‘Terminator 2," ran out of cash to finish 
its latest projects and asked for help. 

The Japanese maker of audio and video equipment uill 
provide the money by paying license fees in advance for the 
ri^i to make video cassettes of Carolco movies and other 
spinoff products. 

C-arolco said that agreement with Pioneer, along uHth 
separate accords with other shareholders and creditors, 
should give it the $Z0 million it needs lo keep going. 

Carolco said that its funding shortfall came b^’ause of 
casting and production problems that had delayed filming on 
its two latest projects, “Cuiihroai Island” and “Show Girls." 

Pioneer invested in Carolco in 1990 and is the largest 
shareholder, with a stake of 41.2 percent. 

.As well os the assistance from Pioneer. Carolco will geJ 
around S2 million from Le Studio Canal Plus, a French 
entertainment enterprise that owns 17 percent of Carolco. 
and will transfer the rig.hta to "Show Girls” to WetfO-GoJd- 
\v\Ti-Mayer Inc., an 18.5 percent shareholder. 

•Analysts said the move was risky for Pioneer because there 
was no guarantee that Carolco's latest film would be success- 
ful enough to b.ring in the cash to cover the extra financing. 

"This makes things very difficult for Pioneer." said Hiioshi 
Kuriyama. industry analyst at CS First Boston (Japan) Ltd. 
He said that Pioneer would probably have to keep funding 
Carolco as lo.ng as the company went on making juowes. 

Pioneer will probably keep paying Carolco what it can each 
year and the movie studio will continue to hurt Pioneer's 
consolidate earnings. Mr. Kuriyama said. 


Billions 



to Go 


Bv Bernard Weinraub 

Vfw J'ort Tirnf: Sertifi- 

HOLLYWOOD — Three 
weeks after the dcpartu.‘'e of Pe- 
ter Guber as chairman of Sony 
Pictures Entertainment Inc., 
the Japanese-owned studio ap- 
pears stricken by indecision, 
high-level bickering and tur- 
moil. defections and a weal; 
.slate of new movies. The same 
problems, in other words, that it 
has been grappling with in re- 
cent years. 

So'nv bought Columbia Pic- 
tures and Trisiar Pictures in 
1989 for S.V4 billion. Few peo- 
ple in Holbwood expected im- 
mediate major changes. 

But talent agents, producers 
and .several executives at rival 
studio.s said that the problems 
at Sony Pictures seemed so en- 
trenched that the Japanese 
company, which has spent per- 
haps as' much as S8 billion in 
Hollywood, would have to 
.'^pend hundreds of millions of 
dollars more to lift the studios 
out of their morass. 

Within Hollywood, the tur- 
moil at Sony has been over- 
shadoT«'ed by the plans for a 
new studio announced by three 
of the most powerful men in 
towTi, Steven Spielberg, Jeffrey 
Katzenberg and David Geffen. 

"The fact is, we had a bad 
year,” said Mark Canton, chair- 
man of Columbia Tiistar Mo- 
tion Picture Cos. “There's no 


denying that. We m:ide bad 
choices." 

"The Last .Aciion Hero." the 
1993 big-buJgtft .■\rn''ld 
Schwarzenegger aclion-come- 
dy. Mr. ConTon said, ‘‘exagger- 
aicd ihe sense of loss." 

"Thai was the dcmarcatio.n 
line." he said. "Our focu- was 
lost. The eyes were off ihe bali." 

“There's a period of transi- 
tion taking place now. and it's 
gciing to be successful li is!" 
said Mr. Canton, who N known 
for his enthusiasm and opti- 
mism. "1 had breakfast the oth- 
er day with Arnold Schwarzen- 
egger. f was on the phone the 
other night with Sly Stallone. 
I'm doing my bit. We're not 
stopping. 'iVe’re on the way." 

Still, in contrast to every oth- 
er major studio, Columbia has 
no blockbusters or high-profile 
filsis coming up over" the holi- 
day season, with the modest ex- 
ception of ‘'Little Women.*' 

•After that, Columbia will of- 
fer a lineup of low-key . moder- 
ately budgeted movies into the 
summer — highly unusual for a 
large studio. 

Trisiar's sluggish production 
schedule in the past has left its 
executives feeling like stepchil- 
dren within the Sony hierarchy. 
Bui Trisiar, in contrast lo Co- 
lumbia, has some potential 
commercial and critical suc- 
cesses. including “Mary Shel- 
ley’s Frankenstein.” with Rob- 


DeNiro and Kenneth 


Branagh. 

Sony Pictures has had some 
hits in recent vears. most nota- 


bly "Sleepless in Seattle," 
"P’hiladelpfca" and "A League 
of Their Owt.." 

But last > car it suffered losses 
estimated at SZ'iO million on 
several debacles, including 
"The Last Action Hero," “ru 
Do -Anything." "Geronimo." 
and "Lost in Yonkers." 

Tne downward spiral comm- 


on hiring executives at enor- 
mous salaries and giving golden 
handshakes to others, on bonus 
pools reaching into the millions, 
on perks and for rebuilding the 
studios to make offices and din- 
ing rooms the sleekest in Holly- 
wood. 

But building sleek offices and 
amenities has turned out to be a 
lot easier than cutting through 
the layers of indecision at the 
studios. Executives at the top, 
like Alan Levine, a law-yer w'bo 


Building sleek offices has turned out to be 
a lot easier than cutting through the layers 
of indecision at Som 's studios. Executives 
at the top seem to be in constant states of 
turmoil, frustration and competition. 


ued this year, with big-budget 
flops and some high-profUe dis- 
appointments. like “Wolf.” The 
studio has less than 10 percent 
of the industry’s box-office 
sales this year, trailing five oth- 
er studios'. 


.A common ebaraaerization 
of Sony in Hollywood now is 
that it is close to paralysis. 

Actually, the bulk of the SS 
biUion spent by Sony in the last 
five years has not b^n on mak- 
ing movies. It was spent, in- 
stead, on buying the company. 


has assumed many of Mr. 
Guber*s powers, as well as those 
I^eath, seem to in constant 
states of turmoil, frustration 
and competition. 

These include Mr. Canton: 
Fred Bernstein, preadent of 
Columbia TriStar Motion Pic- 
ture C^.; Lisa Henson, presi- 
dent of Columbia Ketures; Bar- 
ry Josephson, president of 
production at Columbia, and 
Sidney Ganis, president of 
worldwide mariceting at Co- 
lumbia Tristar. 


.A more benign climate, with 
much less infighting, lingers 
over Trisiar. a smaller siudso 
run by Marc PlaiL the presi- 
dent, and Stacy Snider, the 
president of proclueiion. 

Addressing the intemal^tur- 
moil within Bie top tier of Sony 
Pictures Entertainment, one 
studio executive close to Sony 
said: ‘The place is Machiavel- 
lian and poUticalW driven, ^ ou 
tell this executive a little, and 
that executive a lilUe, and they 
work at cross-purposes." 

In recent days. Mr. Canton 
ha s sought to send a message to 
Hollywood 'that his studio is 
deTinitely back in business. Sev- 
eral films have been an- 
nounce notably a big-budgej 
special-effects adventure cailra 
“Jmnanjl” starring Robin Wil- 
liams, who will ^ about SI? 
million for the Tristar film. 

“We*re hitting singles and 
doubles now, not strikmg out, 
Mr. Canton said. "We’re not 
folding the tent. OK. let's learn 
someming from our mistakes 
and failures.” 

Fault for the mistakes and 
failures is hardly Mr. Canton's 
alone. Film executives wit^ 
Sony as weH as at other studios 
said that Michael P. Schulhof, 
the top manager of Sony's siz- 
able operations in the United 
States a^ president of Sony 
Coip. of America, not only cre- 
atfwl thA ctiiHins' falterine man- 


aoemeni regime but also «n- 

The 51-vcar-old Mr- bcoui 
hof. who declined lo eomiMnt 
for this article, is under conad-^ 
crable pressure from Japan to 
fix Sony's flagging enicrtoin- 
menl empire in Anwnca. it wa.v 
Mr. Schulhof who brought Mr. 
Guber and his then-pr<HJwang 
partner. Jon Peters, to mn Spny 
at a cost that mjg uUiiraiely 
reach more than $*00 million. 


Messw. Guber and Peters 
hav-e left Sony separatclv, re- 
ceiving bonus^ that 
the tens of milhons of oc^rs. 
Most of Mr. Guber s duu« 
have been assumed by Mr. Le- 
vine. a Holh-wood lawyer who 
is relatively inexperienced tn 
film-making. 

It was Mr. Levine even more 
than Mr. Guber who oversaw 
the faltering business side 
^ny studios, together with 
Jonathan Dolgt^ Mr. Doigeo, 
who tanked with Mr, Levine 
F^ieaied^, quit March 17 to 
become chairman of Viaconj 
Entertainnienc Group, which 
runs Paramount. 


The loss of Mr. Dolgra was"^' 
just one of several to strike the 
company. In the last few years, 
Messrs. Schulhof, Gub« and 

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The A340 has brought Delhi closer to Washington D.C. 


The A340 is the longest range aircraft in civil aviation histoiy. It can fly a full complement of passengers, In true vride-body comfort for over 16 hours non-stop. This opens up a whole new 
route network for the world's airlines. For example, the A340 can easily fly non-stop ail the way from Frankfurt to Santiago, New York to Cape Town or Delhi to Washington D.C. 





In 



'1993 Baled inp^certt_ 



>^-AiRraftmaftiehahtt • 
wtdtnodiMarim 


RecOMalssanee 
and ' 


' :andconi(c{s.’.6K .•!., 


Comnsn^ . . 
cpnfrel.and ;•- 


Soiircs.' Company /deports" 


lovnmcinal HemU Tntanc 


Conthmed from Page 1 
as a suitor, as has fast-groiving 


Loral Coip., whose chairman, 
rd Sch' 


Bernard Schwartz, effusively 
praised E-Systeros in a recent 
mterview. 

**lt’s a neat fit with Loral and 
has a great technolc^v base,” 
Mr. Schwartz said. 

The fins has one asset that 
could be worth bUUons to any 
partner: the trust of the nation s 
mtdl^ence establishment. 

EUiott Rogers, a defense in- 
dustry analyst with Cowen & 
Co., a New York-based br<*er- 
age finn, said that when he asks 
mtelligenoe officials which firm 
they consider most reliable and 
discreet, the usual reply is £- 
Systems. ”It is viewed as so k^ 
partly because it keeps its 
mouth shut,” he said. 

Classified contracts fur- 
nished 51.8 billion of E-Sys- 
tems* S2.1 billion in 2993 reve- 
nue, or SS percent of sales — 
the behest percentage of any 
large fum ne firm wants the 
ratio to be half classified, half 
unclassified by 2000. 

^th 15,625 employees, E- 
Systems has pared its work 
force nearly 18 percent from its 
1S^8 high of 19,000 people. It 
has 3,i00 empK^rees m the 
Washington area, mostly in 
Falls Church at its Mdpar divi- 
sion, which makes the recon- 
naissance gear used in spy 
planes to take pictures and cap- 
ture dectronic signals. 

Hie central problem for £- 
Systems, its officials said, is a 
lack of experience in designing 
products or services for public 
customers, known tw some in 
the firm as the “white” world, 
as opposed to those in the secre- 
tive mtelligence environment, 
often referred to as “black.” 


Some £-Systerm employees, 
fearful about sharing secrets 
with outsiders, were uncomfort- 
able in 1992 when the company 
hired M^e Allred, a former Xe'- 
. executive, to market 


rox 


EMASS^ to commercial firms, 
industry officials said. 

lot of walls have come 
down” since then, Mr. Allred 
said. 


Ep^stems, founded by Texas 
aviation engines in the 19^, 
specialized m aircraft electron- 
ics and was known as Temco. In 
1960, it was snapped up by 
James J. Ling , an audadou:" 
Dallas wheder-dealer who builr 
a motley conglomerate called 
LTV Corp. 


By 1968, LTV was teetering 
under a debt load Mr. T ing had 
accumulated. Soon LTV’s 
board dismissed him, but on his 
way out Mr. Ling placed the 
nnanaally failing Temco dxvi- 
5100, renamed LTV Electro^ 
terns, in the hands of his corpo- 
rate planner, John W. Dixon, 
an econ omis t 


One air force official said Er 
System “has b^n black so 
long it doesn't know how to 
operate any other way." 

Even so. all the firm's divi- 


sions are dreaming ^ new 


commercial ventures. ex- 
ample, a machine the company 
designed for the National Secu- 
rity Agency now makes it possi- 
ble for a police officer to tap 16 
phone lines at once. 

E-Systems also is seeking 
new uses for CIA-sponsored 
computer technology that can 
process, enhance and compare 
spy satellite photos. By filtering 
out clouds, fog, soot and snow, 
£-Systems computers can dis- 
cern subtle changes in the pic- 
tures, such as a hatch door 
that’s ajar at a Russian missile 
base, and help interpret the 
meaning — p^aps a missile 
launch. 


Now the firm is adai 


lapimg 

these computers to spot differ- 
ences over time in human tis- 
sue. to note, for example, tinv 
breast lumps (hut mav he can- 
cerous. 

E-Systems also is commer- 
aalizing gear it niade vears ago 
to let the National Security 
Agency store vast amounts of 
computer data such as the 
phone calls and elecirontc 
bleeps recorded by spv satel- 
lites. 

An E-Systems division called 
EMASS sells this technology to 


Mr. Dixon was a visiemary 
who quickly assigned his engi- 
occts to work on a lucrative new 
rmsiness; extremely hi^-tech 
electronics and computers for 
Classified spy craft and surveil- 
lance systems. 

LTV Bectrosystems was a 
market leader from the start. It 
was the dawn of the computer 
age. and the federal government 
was just starling to build the 
classified computer networks 
that now, billions of dollars lat- 
er, handle much of the data col- 
lected by the U.S. intelligence 
conimunj^. 

, “We were there just at the 
nghi lime.” James Crowley, 
E^Systems’ general coun- 
sel, said of the firm’s early 
work. There were only one dr 
two other firms there, too.” 

in notice 

in 1972, when LTV spun off 

Elwtrosystems, now renamed 
pSysiems, by selling iis stake 
m Electrosysterns to mvtsrois. 

In the early 1970s E-Systemi 
won sev^ contracts, such' 

as installing communications 

hSLS" One, thut 

established iLs positibn 

nv hf The torana- 

n> h^held on to this anddtEr 

classified contracts forXX 

anHil W the 

government have been- laced 

as it fahad 

5.?2?'^ef'ofCiA,National^Se- 
^niy Agency and miliiaty *- 
iirees as employees or sulxda- 
tractors. 




• 1 

P 


• ,»!.>'•' ' 






SPYlT€pping Into CoTporate Image 


-1 4 


oil companies keeling larg .- 
quaotities of seismic data, as 
well as to banks and video ar- 
diives. Linki^ several phone 
booth-sized ^iASS comput- 
ers, it is possible to store 5 trii- 
1km pages of text >>•1 stack of 
pfiq>er ISO miles (240 kilome- 
ters) hijgh — and retrieve any 
page with lightning-fast sp^. 

Commercial uses might be 
found too for the company's 
once-secret sensor gear, which 
could be valuable in detecting 
ydhicle traffic volume, for exr 
ample, or mapping the earth’s 
ucoer^und strata. 


OfhTii 


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.■h4 

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. J 


NYSi 


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internahozul herald tribune, Tuesday, October 25, 1994 


3»‘ 


Sil VUj 
> 


Australia Raises 
Interest Rates 
By a Full Point 


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Roam 

SYDNEY — The Reserve 
Bank of Australia raised inter- 
est rates Monday for the second 

time in less than three months 
to try to prevent an inflationary 
backlasn from hurting the 
country’s growing economy. 

The central bank said it 
would intervene in the mon^ 
markets Monday to raise the 
key official cash rate to 6.^ 
percent from S JO percent. The 
central bank last raised interest 
rates Aiig. 17, three-quarters 
of a percentage pmnt. The Au- 
gust rate rise was the flist since 
1989. 

Bemie Fraser, the reserve 
banlf s gpvemor, said, ‘This in- 
crease help to avoid an over- 
httltog of the eoanon^ down 
the tra^ tberd^prcdonging the 
period of susboned growth in 
ptodnction and empU^imenL*’ 

Mr. Fraser said the economy 
was Rowing robustly, wi th con- 
sumer and business spending 
rising more quiddy than ex- 
pected, but he warned inflation 
could 80 (m run above its cur- 
rent 1.7 percent ammal rate. 

He said the central bank was 
aiming to keq) onderiying in- 
flatimi in the range (rf 2 percent 
to Si.pescent range. 

R&. Henderson, an econo- 
mic at Dresdner Intemationd 
^nahoal Markets (Australia) 
Ltd, said the rate rise was **an 
aggressive move whidi is de- 
stgoed to show that the Reserve 
Bask is absdutdy serious about 


For investment 
information 

Read 

the MONEY REPORT 
every Saturday 
in the IHT 


fighting inflation in an economy 
that is growing very strongly." 

Economists said the increase 
would pass quickly lo commer- 
dal prime lending rates, sap- 
ping growth in mongage lend- 
ing, which has run at an annual 
rate of more than 20 percent 
since December 1993. 

Economic growth, at 43 per- 
cent in the year endcMl in June, 
is expected to jump above 5 
percent in the next quarter after 
a leap in retail sales and a surge 
in employment to a record hip 
in Scomber. 

Mr. Fraser foreshadowed the 
rate increase last wedc in com- 
ments to a parliamentaiy com- 
mittee, but traders said rise 
still had been slipdy earlic 
and larger than expected. 

The Australian doliar rose to 
73.69 U.S. cents from 73.08 
cents, while the All Ordinaries 
stock index edged up 2.80 
points to dose at 2,037.40. 

Economists termed the rate 
inoease aggressive and wdl- 
timed and said it should ease 
market concerns about Austra- 
lia’s inflation outlooL 

"It did si^rise. and it's a bit 
bigger than'eiq}ected, but ^en 
the strength of the economy it 
was clearly tiie right thing to 
do," Rory Robertson of Bank- 
ers Trust Atistrafia Ltd. said. 

■ Pacific Dimlop Is Upbeat 

Paciflc Donlop Ltd. is pdsed 
to benefit flom the strongest 
econonuc conditions in four 
years, mainly as it increases its 
presence in high-growth Asian 
markets, Bloomb^ Business 
News quoted Chainoui John B. 
Gou^ as saying. 

He said Pacific Donlr^ had 
allocated 350 milUoa Austra- 
lian dollars ($256 miUioo) for 
capital investmeai in its current 
fiTM-nriat year, an increase of 30 
percent from the previous year. 


Japan Tobacco Is a Drag 

Buyers Balk at New Issue’s Hig h Price 


Btoomberg Biamea Stwj 

, TOKYO — A couple of months ago, inves- 
tcvs were floddng to Watanabe's 

office at hdkko Securities Co. in Tokyo's 
Ginza district, eager to buy stock in Japan 
Tobacco Inc. 

Ms. Watanabe figured she could sell as 
many shares as the firm's clients won the right 
to purchase in a lottery held by the Ministry 
of Hnanee in August As it tuned out, more 
than 220 dients won rights to the shares, but 
ooN 36 bought 

initi^ rush was even greater than for 
East J^un Rdlways," said Ms. Watanabe, 
referring to an earlier sale of a former govern- 
ment-owned conqiany that drew more than 
10 investors for e^ ^are. "But they quickly 
rfiangtjrf their mmds." 

This change of heart tells a sto^ of con- 
tinuing aogiush on the Tokyo Stock &- 
change. In selling one-third of the tobacco 
giant trunistry omcials hoped to end a string 
of poor peiformanoes by government listings. 
Instead, the issue has become a flop even 
before the shares hit Japan’s e^t exdianges 
Thursday. 

This ail has left the Japan Tobacco listing 
hanging over the Japanese stock market.like 
smoke m a pod hali — depressing sentiment 
diag^g down jmees and mducing fresh crit- 
icism of the Kfinistiy of Finance’s hantfling of 
privatization sales. Traders and analysts said 
they ej^pected those who did buy the stock to 
see their investment start to dwizufle in value 
soon after the shares are listed. 

Tt points out a fundamental flaw in tire 
government" said Edwin Memer, director of 
Schroder Investment Trust in Tokyo. "They 
don’t care about w^t ha j^^ens to the shares 
once theyYe sold. Th^ don’t care about 
shareholders." 

The goverument still owns nearly 40 per- 
cent of the 666,666 shares it plans to sell, 
despite a pool of neidy 8 million investors 
triio had applied to purchase in all, 
two-thirds of the winners of the August lot- 
tery for ehancgi^ to purchase the sha^ derid- 
ed not to buy. last week, fewer than one in 10 
bought aken the ministiy offered the shares 
to those viio hadn't won rights to tbena in the 
lottery. 

fThe Finance hfinistry said Monday it 
would keep the unsold shares for the rest of 
the fiscal year, aiding March 31, to prevent 
downward pressure on the stock ouiket, ac- 
cording to an Agence France-Press report 
from Tckyo.l 


The poor reaction from investors has been 
blamed on the ^wemment's offering price of 

1.438.000 yen ($14,800) a share. Analysts said 
it was simply too hi^ 

Prospects for the world's founh-largesi to- 
bacco cozz^any are not that great, they said. 
Tire nuffibtf of smokers is steady declining 
in Japan, as is the overaU population, and 
lower tarifls on rigarettes and a stronger yen 
are creating stiff competition from ^>road. 
The company’s market share has slipped from 
more thu 97 perceait in 1985 to just over 82 
percent last year. 

T expect^ the price to be more like 

450.000 to 600,000 yen." said Koichi Yo- 


The government still owns 
nearly 40 percent of the 
666,666 shares it plans to 
sell, despite a pool of nearly B 
mBlion investors who 
applied to pnrchase them. 


shida, an mvestor who gave up his right to 
buy the shares. 

All of this leaves brokerage concerns with a 
less than dynamic company to try lo sell to 
clients. 

Ministiy officials set the share price Aug. 
31. basing h on the weighted aver^ offer 
during a ^ed-bid auction held eariier in the 
month. 

De^te its poor pioqrects, the auction re- 
sults assijgned Jqian Tobacco a price 40 times 
pro sp e ctiv e earning^ according to Patricia 
Horvath, an anal^ for UBS Plmlips & Drew 
Intonarional Ph&p Monis Cos. of the United 
States bas a price/emnings ratio of about 13. 

On SepL 6, a public offering by a company 
loosely affiliated with the government — Ja- 
pan Triecom Ca — turned into a resounding 
flop. Tire company's riiare price, set by the 
same process as Japan Tobacco’s, fell more 
than 6 percent in its first wedL It now trades 
at about 80 percent erf its pre-listing price. 

Back at Ms. Watanabe’s brekerage office in 
Ginza, Japan Tobacco applicants suddenly 
found reasons not to buy. Tb^ worrit that 
anti-smoking campaigns would cause ciga- 
telte sales to drop, cr that the company’s 
product lines were too narrow. They also 
realized drey were not alone in their concerns. 


h v 

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New Offerings Lend Spice to Indonesian Exchange 


Xtalen 

JAKARTA — Indonesia’s stock mar- 
ket, shunned by foirign investors for 
most of the year, is set to pofonn 
strongly in the next few after the suc- 
cessful local and intemational listing of 
the tdecommimicatioas company Indo- 
sat, brriters said 

They said that eanunzs in 1995 were 
oqrected to show growth of 25 percent 
and that greater fiqmdity and market 
capitalization made Jaki^ one of the 
most attractive emerging markets in the 
wmid. 

T nray be a little oveibaUish when I 
say pin your ears back and go for it, but 
tlm are a lot of very good f acton in (his 
market," said Midhad Chambers of the 
brdraage GJC Gob Omeiraco. 

Ind^t, w^iich attracted many first- 


time foreim investors to Indoneri^ has 
dominatfia trading since its local li^g 
Wednesday and (talked up a gain of 24 
percent from its initial public oflering 
price of 7,000 rupiah (S3 J2). 

Brokets said its high-profile listing in 
Jakarta and last week in New York had 
bdped put (be local madtet on the m^ 
and would boost liquidity, a problem 
t^ has pli^;ued the exchange. 

"Many investors ignored Jakarta this 
year because of poor liquidity. But with 
Indosat and deregulatory measures 
from Bapepam starting to take effect, 
liqiudity should increase," said Adoan 
Tan, sales ditector at Mor^ Gtenfdl 
Aaa Indonesia. Bqrepam is the coun- 
try’s stock market watchdog agency. 

After jonq^ing 115 percent last year 


and peaking in January, the market haa 
faced perastent overseas selling pres- 
sure, a stale banking scandal and pitiiti- 
cal unrest in Medan in AprtL 

But Indosat. capitalized at $4.2 bO- 
Uon, has raised muket c^italization to 
S50 bilhoiL It is the second-Uigest suxk 
on the exchange after the cement maker 
Indocement. 

Brokens said Indosat had riso paved 
the way for a series of mtgor listings in 
1995. mcluding the national airline Gar- 
uda Indcmeaa and the telecommunica- 
tions company Telkom. 

The depth of tins market is becom- 
ing much ^eater now,’’ said Quentin 
Jordan, a director at the brokerage con- 
cern HG Asia Indonesia. "So many 
more people are aware of Indonesia 


■ Tiafal^ '^^ns CoiiBorliiun Role 

An An^o-Indonesiatt consortium led 
by President Suharto’s oldest daughter, 
Stti Hardiyanti Rnkmana. and Britain’s 
'Dnfal^ House PLC completed an 
agreement to build a loU read on Java in 
one of tire biggest deals ever arranged 
between the two countries, Reuters re- 
pOTted from Jakarta. 

This U probably tire biggest civil 
prefect ever signed between tire United 
Kingdom and Indonesia.*' said Britain's 
trade minister, Richard Needham. He 
said it would be worth about $600 mil- 
Ikm. 

Trafalgar will have a 40 percral slake 
in the venture, and two Indonesian com- 
panies will each have a biding of 30 
percent 


Rage 17 

ASIA/PACIFK 


Stocks Soar 
After China 
Calls for 
Stability 

CenpiU Ov Ste^ Fnm Dopatches 

SHANGHAI — Stocks re- 
served for Chinese invesiois 
soared Monday after a top se- 
curities official said China mtist 
quickly establish investment 
funds. 

The Shanghai Securities 
News quoted an unnamed offi- 
cial of the China Securities Reg- 
ulatory Commission as saying 
urgent measures must be taken 
to stabilize prices. 

The offidal A-shaie index 
rose 78.56 points, or 1 1 percent, 
to 809.34 ^ints. 

"Stock maricet turmoil has 
tugged at the hearts of hun- 
dreds of millions of Chinese 
people. It is important now to 
research concrete ways of de- 
veloping and stabiliung the 
stock markets.’’ the official 
sai4 "One way is to explore and 
establish stock investment 
funds as soon as possible" 

The offidal told the paper 
that long-term investment 
funds, winch now account for 
mly 1 percent ik share trading 
would reduce the level of speoi- 
lation on stock markets. 

China has promi^ to boost 
the number of investment funds 
before but has stalled because 
of worries that their fund-rais- 
ing activities could hit savings 
and fuel inflation. Analysis said 
tire artide ladced ooni^e de- 
tails but was largely taken as a 
positive sign. 

The devdopment of ist'est- 
ment funds would be good 
news, but thQr have been prom- 
iring this for a long time," 
Timothy Mou of Smith New 
Court in Hong Kong said. 

The front-page story in Chi- 
na’s leading securities newspa- 
per reflected growing alr^ 
that volatili^ on the country's 
Stodc niaiVeK in Sh.'wghai and 
Shenzhen could upsct plans to 
develop capital markets to raise 
money for industrial develop- 
meuL 

In a flve-wedc period starting 
at the end of July, the Shanghai 
Stock Exchange A share index 
for domesticallv traded shares 
rocketed 240 percent 

Last week, the A-share index 
gained 13 percent after Mayor 
Huang Ju of Shanghai visited 
tire market U is still almost 30 
percent down from mid-Sep- 
tcunber, when the market was 
hit by fears of senior leader 
Deng Xiaoping's death and 
^peculation that the govern- 
ment would backtrack on re- 
forms. 

The Credit Lyonnais B Share 
Index feJl 03 percent to 858.93 
points Monday. B shares can be 
owired by foreign investors, un- 
like A shares, 'uducb are re- 
served for Chinese investors. 

(Bloomberg, Reuters/ 


ll Investor’s Asia | 

Hong Kong 

&’ngapoiie 

Tokye 


Hang Seng 

Straits Times 

Nikkei 225 


m 

2400 

1 if 

22000 

1 

IDODO , 

V 

Iff 

'“Air 

1 

^j\f 

2!00 Y 


20000 ^^ 

V 

““m/jaso 

A SO 

j 'j 

A S 0 

TSM 

19M 


1994 


Exchange 

index 

Monday 

Prev. 

% 


ClOSB 

Close 

Change 

Hong Kong 

Hang Seng 

936U9 

9.33&S9 

•10.28 

Singapore 

Straits Times 

2,37a.86 

2,377.45 

-0.02 

Sydney 

AHOidineries 

2.037.40 

2.034.60 

40.14 

Tokyo 

NB(Kei225 

19,852.3' 

r 19,899.08 

-0.23 

Kuala Lumpur Composite 

1,109J)7 

1,114.42 

•0,48 

Bangkok 

SET 

Cloeed 

1,522.48 

• 

Seoul 

Composite Stock 

1.081.55 

1.089.30 

4).71 

Teipef 

We^hted Price 

6,742.39 

6,770.94 

-0.42 

Manile 

PSE 

3.113.15 

3,084.60 

+0.92 

Jakerta 

Stock Index 

512.48 

514.97 

-0.48 

NewZealaoMi 

Bombay 

N2SE*40 

National Index 

Cloeed 

2,045.06 

2.061 57 

2,039.54 

+0.32 

I 


Soureea: Aeuters, AFP 


IlHvnulHUj Ik'ijd Tiiluriv 


Very briefly; 

■ Bank Pembangunan Indonesia's former director, Touil Heri'oto. 
is Ukdy to be sentenced to 14 years in jail for his part in a loan 
scandzd if the judge follows a prosecutor's recommendation, the 
Antara ne^’s agency reported. 

• Goldstar Electroaic Devices Co. plans to in\’est S3.7S billion to 
bitild a third chip factory to produce dynamic random access 
memoiy chips. 

• Hmig Kmig banks unveiled measures to combat money launder- 
ing. including instructional booklets and videos for bank staff. 

• VoOcswagoi AG’s Shanghai Volkswagen Corp. plans to double 
its register capitd to 2.3 billion yuan (S270 million), the Xinhua 
news agency reported. 

■ Stmy Coep. plans to set up ajoint venture next month in Ho Chi 
Nfinh City wi^ Viettronics Tan Knh Co. to produce and market 
audio and video equipment in Vietnam. 

• China has stopped trading of futures in two agricultural com- 
modities and ti^en other measures to tighten the regulation of 
futures markets, an official newspaper reported. 

• Standard Chartered PLC of Britain and Ci»"adiftn Imperial Bank 
of CorameRe will cease to be quoted on the Tokyo Stock Ex- 
change as of Jan. 31. 

• QBna*s president, Jiang Ze min, said after meeting with Alan 

Greenspan, chairman of the U.S. Federal Reser\‘e Board, that he 
bt^red for greater cooperation between the central bonks of the 
two countries. AP. AFX. AFP. Roam 


Morgan Joins China Bank 


Remen 

BEUINO — Morgan Stanley 
Group Inc. and People’s Con- 
struction Bank of Chma signed 
an agreemem Mondajr to form 
China’s first international in- 
vestment bouse. 

The new Beijing-based com- 
pany, Ouna Intemational Cap- 
ital Corp., will engage in a 
broad range of investment 
banking and advisory activities. 

These will include helping 
Chinese companies and joint 
ventures raise funds in tire in- 
temational maricet, advising on 
restructuring and financing, 
and helping foreign investors 
make di^ investments. 

The company’s shares will be 


evenly split between Chinese 
and foreign investors. People's 
Constniction Bank will hold a 
42.5 pereent stake, and China 
Naticmal Investment & Guaran- 
tee Coip. will own 7 J percent 
Morgan Stanley nill bold 35 
percent and Covemment of 
Singapore Investment Corp. 
and Hong Kong’s Mingly Corp. 
will each own 7 J percent. 

■ nSATs Quna Venbire 
International Business Ma- 
chines Corp. and Qinghua Uni- 
versity, one of C hina ’s top uni- 
versiUes, formed ajtwt venture 
to develop computer software, 
the Associated Press reported 
from Beijing. 


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1 


Page 18 


INTERNATIONAL HERALD TRIBUNE. Tl^SDAY. OCTOBER 25. 1994 


SPORTS 



More Slots 
In ’98 Cup 
May Go to 
Europe 

.Con^Hed by Our Su^ Fnm Ihspaidia 

NEW YORK — Europe is 
likely lo be granted three addi- 
tiond berths in the 1998 World 
Cup soccer Hnals in France 
when the toumameoi will be 
increased from 24 to 32 coua- 
tries, a FIFA official said on 
Monday. 

The allocation of eight addi* 
tiocal berths for the next World 
Cup finals is the top item on the 
agenda when the Executive 
Committee of soccer's world 
governing body begins tneedng 
here Tuesday. 

The World Cup. which saw 
the 1994 host, the United 
States, reap profits of S60 mil- 
lion, will be expanded for the 

finals io France in 1998 and 
regional confederations are 
campaigning aggressively for 
the extra places. 

But FIFA's president, Joao 
Havelange, is reported to have 
already struck a deal with the 
coveting bodies. 

The sport's ^ropean gov- 
eming body, UEFA, bad asked 
for the extra places to be allo- 
cated according to the composi- 
tion of the 1994 cup quarterfi- 
n^s, in which there were seven 
Eurcpean teams and Brazil. 

"I^)wever, we needed to have 
agreed before the finals if we 
were going to use that system.” 
said FIFA’s secretary-general. 
Sepp Blatter. 

But he did not dis^ree when 
asked whether 16, including the 
host France, was a plausible ng- 
ure for £ur(^>ean teams in 1998. 

‘'When we take our decision 
on Thursday,” he said, “the ex- 
ecutive committee will have 
taken into account both quanti- 
ty and quality.” 

UEFA is thou^t to have 
won its battle against another 
^tem based on a series of 
playoffs. 

But UEFA's stand will be op- 
posed by the Ariican and Asian 
confederations. Both wont two 
more places for thdr teams and 
only two more for Europe. 

“African football has more 
than proved itself on the inter- 
national stage,” smd the presi- 
dent of the African confedera- 
tion, Issa Hayatou. ”We are 
sorely undarepresented.” 

Hie South American confed- 
eration is in favor of one more 
berth for each confederation — 
Europe, Africa, Aria, South 
Amencan and CONCACAF — 
and wants the top three teams 
from the U.S. Worid Ciqi — 
Bra^ Italy and Sweden — to 
qualify automatically. 

' Other matters to be ad- 
dn^sed during the three-day 
meetings indtw plans for the 
1996 Atlanta Olympics soccer 
tournament, status of the start- 
up U.S. professional league and 
anal^is of the past World Cup, 
which was marred by the ban- 
ishment of the Argentine star 
Diego Maradona for illegal 
drug use. (AFP, Reuters) 


S'f' 



U.S, Soccer League: An Idea 
Whose Time Has Not Come 

Long After ’94 Cup, Plan Is Far From Realized 


f 




AN AFFAIR OF STATE — AC IVRlan's Dutch star Ruud Gmlit fleeing a Sampdoria defender in an Italian league 
match that ended 0-0. Although the once-mighty Milan is wallowing in place. Prime Minister ^vio Berlusconi 
said on Monday in his weekly radio interview fliat he was sure the team — which he owns — would rebound soon. 


Japan Baseball Fans to Feel Chill of the Night 


TV Pnas 

TOKYO — Tuesday's third game of 
the Japan Series may be a little cold for 
the baseball fans, but it will be a hotter 
seU for televisioQ. 

The game, with the Seibu Lions and 
the Yomiuri Giants tied 1-1 in the best- 
of-seven contest will be the first night 
game in 30 years in the Japan Series. 

The timing means lelevirion broad- 
casters pay hi|ber fees to Jean's base- 
bril commissioner, but in turn can 
charge hi^er fees for advertisements 
aired during the game. 


Televirion stations declined to say ex- 
actly how much higher the fees would be. 

Yoshiaki Kanai. secretary-general of 
the Japan Baseball Commissioner, said it 
had bm decided to hold weekday Japan 
Series games, now and in the future, at 
night to give as many fans as possible a 
chance to watch on *televi5jon. Seats at 
the stadiums usually are sold out. 

Kanai said TV stations also wanted 
the biggest possible audiences. 

This year, the change means playing 
games 3, 4 and 5 at night. Games 6 and 7. 


to be played Saturday and Sunday if 
necessary, would be held in the daviime 
at the Tt^o Dome. 

Kanai said fans at the game Tuesday 
might feel cold at the 37.000-seat Seibu 
St^ittm to Tokyo's suburbs, where the 
temperature could drop to 10 de^ees 
centigrade (50 Fahre^eit) at night. 
Tuesday's daytime fcMccast was for IS 
degrees centigrade (64 Fahrenheit). 

Extra tdevision revenue would go to 
such things as player welfare funds, with 
some addition^ share for the two teams. 


By Alex Yannis 

,Vot' York Tima Smice 

UNION. New Jersey — They came from five 
states. 322 of them, semi-pro' players, former 
college stars, and even two 14-year-olds from 
nearby Hudson Catholic High School. They 
gathered at Kean College to try out for a profes- 
nonal soccer league that was meant as the l^acy 
of the 1994 World Cup but right now is still an 
idea whose time has yet to come. 

The tiyout was conducted by Major League 
Soccer, the first of 16 it has plaim^ to stock 
teams for the new enterprise t^t was supposed 
to be in place shortly after the World Cup ended 
in July. Despite promisiRg “major announce- 
ments” several times in the last several months, 
the league, schedule to start in April, is still in 
the buriness-plan stage. 

David Dir. the director of player development 
for Major League Sweer, called the tryouts '‘a 
search for diamonds in the rou^.” 

‘‘Fve seen about 190 gam^ and Fve started to 
build a pool of players.” said Dir, who has also 
scouted talent in professional, semi-pro, and 
amateur games. 'Tve ranked atoul 700 players, 
but 1 want to make sure I give ev^body a 
chance. Some of these guys will be invited to 
three combines we will iuve in January.” 

Rogpr (Thavez. a former star at Island 
University, was among the candidates. Like many 
of the players here, be had one question upper- 
most on his mind: “Is there going to be a league?” 

Alan Rothenberg, the chairman of the league 
and president of the U.S. States Soccer Federa- 
tion. declined requests last week for comment on 
the league's status. One person familiar with the 
league's plans, who asked not to be identified, 
said that the league's chances of operating next 
spring were “50-50.” 

But two of Rothenberg's duties and Charlie 
Stilliiana the director of the Giants Stadium venue 
for the W<nld Oip. gave an optimistic rq)ori when 
asked last week about the future of the league. 

“1 spoke briefly with Alan.” said Hank Stein- 
brecher. Rothenterg's right-hand man with the 
federation, “and be told me that everything is 
going forward.” 

‘'*niere are a number of good things gmng.” 
Bill Sage, the chief operating officer of the 
league, said by telephone from Los Angeles. 
“Hiere is an investment meeting going on and we 
will have an announcement in the near future.” 


The next few days are crucial fix the ijjague 
because FIFA's executive commiUtt wtll 
meeting beSnning 

One of Jw conditions unp<^ by FIFA whenn 
asraided the World Cup to the Lfmtcd Stat« 
the establishment of a professional league, li 

Oae person familiar with the 
U.S. professional soccer 
league’s plans, who asked not 
to be xdentxBed, said that the 
league’s chances of operating 
next spring, as had originally 
been planned, were ^50-S0.' 


would be good timing to make a so-called major 
announcement” while executives of the world 
governing body were in the ar^ 

If dancing and other logistics are not in ph^ 
for the league by the time FIFA s hierarchy 
departs on Thursday, it might not bode well fw 
the league's chances to start on time. 

Rothenberg has made ^'cral attempts to at- - 
tract a n umb er ^ corporations or big names m 
sports to invest in the league. His mam .^upporto 
appears to be r jmar Hunt, the owner of the 
Kansas CSw Chiefs of the National Football 
T and backbone of the North Anwican 
Soccer League for yean before its extinction. 

One aspect that has been making investors 
hesitant is the league's format of operating pri- 
mary as a single enti^, meaning that the le:i^e 
will metate policy for all teams, including the 
aftdgning of coacbcs and pe^nnel. 

The l^gue softenra its stance on sing^ 
entity somewhau saying that large investors 
become '‘operator investors,” so that they can 
dictate policy of their individual teams. 

^ants St^um was the site of one of sewn 
teams the league announced June 15 in Chicago, 
two days before the opening the World Cup. 
New York (Long Island), Los Angeles, Boston, 
Washington, Columbia Ohio, and San Jose, 
Calif., were the other rix locales. 

The plan was to announce five more by the 
end of the summer, but the lack of any an- 
nouncement has rais^ all kinds of speculation. 


An Ex~ Star on NBA Courts, Thomas Is Now a Player in the Boardroom 


By Harvey Araton 

fin/ )•««(! Times Sen/ice 

TORONTO — The minority owner and 
vice prerident of the T oronto Raptors wears a 
gold wristwatch on his left hand that was 
given to him by the players* union, 

“A present for retirement.” said Isiah 
Thomas, rdling up the sleeves of his suit 
jacket and shin. 

Not exactly the penrion and Social Securi- 
ty-collecting kind of retirement 

At 33. Thomas stepped down from his fiv^ 
year presidency of the National Basketball 
Assodation Players’ Association last Febru- 
ary. surrendered the Detroit Pistons' point- 
guard position to a rookie named Lmdsay 
Hunter two months later, and soon after 
crossed the great labor divide, from employee 
to employer, from one side of what has be- 
come a ground-shal^g pro sports battlefield 
to the other. 

Except Thomas doesn't much see it that 
way. at least in pro basketball terms. He is 
dressed, and leveraged, more like a corporate 
executive than a sneaker company pitchman, 
but his wristwatch, at least, remains on Play- 
ers' Standard Time. 


"As I sit here today, owning pan of a team. 
1 would hope that the players would be strong 
enough, solidified enough, so that ihev would 
give Charlie the same support of the'players 
before them,” Thomas said, referring to the 
union director. Charles Grantham. 

If they do. and if the NBA owner:! do not 



said. There will, as always, be a deal. 

"The NBA is good business.” he said. 
"And I look at it like a business, not as a 
confrontation. That was my view as president 
^ the players' assodation. That's my view 
now as an owner.” 

This very notion of Thomas as shareholder 
(10 percent valued at roughly S12 million) of 
the expansion Raptors — who. with the Van- 
couver Grislies. will enter the NBA next 
season — is enough to suggest that he mi^i 
be an embodiment of hope for the NBA and 
its labor prospects. 

There are players in oil major team sports 
who ascend to the front office, but how many 
become actual investors? These pro^essive 
developments historically occur first in the 


sague 

Thomas's rise is unparalieleJ. 

Until recently, t'ne former Philadelphia 
^eat Billy Cunningham was pan owner of 
the Miami Heat, but he did not run. as 
Thomas does, the day-to-day operations. 

in Los Angeles, Thomas's peer and former 
close friend. Magic Johnson, has the same 

Interested in 

endoi^ing products. I wanted 
to hire the people who 
would endorse my product.* 


titles as Thomas, but Jerry West maintains 
cDntrc4 of personnd. 

In Toronto, Thomas will set up and run the 
entire organization. He will conduct the 
team's dr^t, direct its scouts, trade and sign 
players and squeeze the club's rosier within 
the confines of the NBA salary cap. 

On the scale of (he 19S0s league-shaping 
superstars, Thomas indisputably ranked be- 


hind Johnson. Larry* Bird and Michael Jor- 
dan in terms of championships won, stature 
and UkabUity. Johnson and Bird were the 
pillars of the NBA bootxi. Jordan is consid- 
ered to be the sport's Babe Ruth. 

Thomas may have been the best little man 
to ever play the game, but that aigament 
became almost muted as be evolved as leader 
of Detroit's iwo-iime champion Bad Boys. 

A player who at 6 foot 1 (1.85 meters) and 
175 pounds (80 kilograms) could have been 
packaged as cuddl^^ wound up cast as cun- 
ning. Outside Michigan, his trademark smile 
w’as seen as wicked, not welcome. 

"I never was competing with Jordan or 
Magic for the endorsement dollars, so I never 
fell the kind of conflict that th^ perceived,” 
he said. “I wanted to be on a different path, 
^en you’re talking about setting a new 
paradigm, a new vision that looks out 30 or 40 
years, well, most people are uncomfortable 
wilh that.” 

“I wasn't interested in endoraing prod- 
ucts.” he added, “f wanted to hire the ^ople 
who would endorse my product. To get to 
that point, from A to Z. you've got to be 


willing to bold the line, no matter what hap- 
pens at B, C and D.” 

Point A, he said, was to establish himself as 
a star player who could attract endorsement 
revenue. Point B was to elevate himself to 
championsUp-levd star. Points C and so on 
were to use that leverage to network with 
corporate executives inside and outside the 
NBA, slowly become one of them. 

Now Thomas clearly is m position to affect 
the NBA of the 1 99Qs and b^ond more than 
his former rivals Johnson. Jordan and Bird. 

These were larger-than-life opponents, be 
said, players far more blessed and gifted than 
be. i^L in Thomas’s opinion, they thought 
conventional player tboights and developed 
typical i^yer reseaiments. 

That of course, is Thomas's view. But with 
Johnson still barmtoiming. Bird admittedly 
bored as a sometimes scout and Jordan pur- 
suing a baseball dream, be may have a point. 
The others app^ to be still looking for a 
bridge to what Thomas called “the next life.” 

meanwhile, is staked in virgin NBA 
territory. And the pla^g field is level now. 
He has the ball, and it ooes not matter any 
more that be is meidy 6 foot 1. 


DENNIS THE MENACE 


PEANUTS 


CALVIN AND HOBBES 




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INTERNATIONAL HERALD TRIBUNE, TUESDAY, OCTOBER 25, 1994 




hi y 

c 

Fur IV 


SPORTS 





.\ 


^ NHLSides 
View of Rift 

By Len Hochberg 

WaMfUHPmS^^ 

WASHINOTON — Two in- 
taiul memos — one written 
the Natkmal Hodc^ t .^pi* 
nffiee to be ^ven to tbe man- 
agements (rf the 26 clubs, tbe 
otherwntteD 1^ the NHL Flay- 
er^ Association to be distributp 
ed among tbe TOO-plos playem 
— Mint a bleak pictme of the 
labor dispute. 

In the mODO^ copies of 
wfakh were obtamed % The 
Washington P06t» the mnon 
writes that it does not trust the 
ownes and does not beiieve the 
oies oi financial dSi str e ss , even 
though annual salaries 

— ^ have more than doubled in the 
- past five years to an aveage of 
^eariy $560,000, accord^ to 
V the NHL. The le^ue writes 
that it does not believe the 
unkm is benm forthright with 
itsmembeis, that die finan- 
cial infoEmation isn’t reaching 

the rank-and-file. 

But pohm the most telling 
passage in both letters — the 
union’s is dated OcL 19, a day 
before the league’s — was writ- 
ten 1^ the NHLPA. 

“As today,” it says, “no 
new nmotiation sessioos have 
hcea scbednled. It is unlikdy 
thm formal or informal discus 
aims wQl occur shortly.” 

Since then, the com- 
fflissiooer, Bettman, and 
the union chief, Bob Goo- 
denow, have spdcen at least 
three times, but they have not 
annoQDoed a formal baruming 
sesarnL Hie lockont readied itt 
2401 day Monday. 

“Sfaice the lodmut b^an,” the 
muon’s letter reads, “the NHL’s 
mqor public leilations theme is 

that the leo g nft an<t many rlnT^ 

are on the brink oi itnaneiai di- 
saster. Tbe NHL 1^ not provid- 
ed us (or the media) with any 

iritahlc firtanrial data tO Sub- 
stantiate its daim. The Motnur 
tion that the NHL has ^ven to 
no fwtB ahnntd 
spubficdaiins 

of rfistress.” 

The NHL recently an- 
nounced that its teams ccdlec- 
tiv^ lost about $30 imIliQU in 
1992-93 (with “more Oian halT 
in the r^) and an estimated 
$37.6 million last season. 

“An of this fmanrial data — 

Tevennes, playercosts, noup]^ 
er costs, profit and loss, and w 
nice '—was cSaed to the Uxdon 
in Jaunan* the leaguers letter 
states. “We offered to permit tbe 
Union to have a qualified inde- 
pendent accountant ve^ the 
rniandal data. The Union de- 
clined to even receive the data 
fiom us. saymg that even if the 
data rimwed losses of the ma^- 
tude riaimwij it was Hmim- 
pressed* and would not alter its 
hat g^tining pndrinn. " 

The union’s letter offers own- 
er^ claims it does not bdieve: 

• That the Stanley Cup 
cfaanqxioa New York Rangers 
lost mon^ last season, as the 
league has said. 

• That the rhicagp Kadc- 
hairics, ranked fra in regu- 
lar seasm receipts, were 
“dead las^ in inrarena revennes. 
'^•That the St Louis Bhies, 
abcoiding to tbe laagne, lost 
money last seasem. 

Thmhas been no bargaining 
sinee Oct. . 10., when the last 
offer — the union’s — was put 
on the taUe (and rgected a 0 ^ 
later). St^ both letters say, 
each side is wiBing to do what- 
ever is necessary to end the 
league’s kmgest work stoppage. 




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Sanvdortu 11. Milan IL Torino M Bari M 
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IB Stag-party 

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•Babi ■ 

24 of March 

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3D Toy gun arnmo 

33 Overhead 

lightfng? 

34 Salt Lake City 
player 

35 Lacking, with 

“or 

3T Hecklers' 
missiles 
as’Get lostr 

41 Drama award 

42 Tsetses 

44 Rhode's mom. 

InTO'sTV 
48 Part of a paper 
roll 

48 Countdown 

start 

47 Mghtdub 
gadabout 
51 Role lor 
Leontyne 
saSiqspy — 

ssStovetop 
appliance 
SB Life-Jacket 
innards 
BO Noodle 
61 Commercial 
endorsement 
63 Harsh 
B4 “Mystery” host 
Diana 

69Adm.Zumwall 
66 Snappish 
ST Give — 
(assist) 

68 Engrossed 


up 


DOWN 

1 Cow's chew 

2 “That was 
closer 

3 Mathematical 
sets ot points 

4 Rudolph has 
one 

sTcunst 

transport 

e Once more 

7 Voiced sigh 

s Qershwin-Weill 
ballad 

e Park patrons 

10 Piles 

11 Girl-watch 

12 Fishing site 

13 Draft org. 

21 24 hours 

22 Poem oi praise 
28 It’s a steal 

26 Two under par 
2T Illinois oty 
28 How some 
stocks are sold: 
Abbr. 

29 Jeopardy 

30 Appear 
suddenly 

31 Payola 

32 Have the helm 
30 11 makes salsa 

plcente 
30 ‘Fables in 
Slang' author 
40 Bridge 
alternative 
43 Remain loyal to 
43 Hubbub 
49 Ms. Streisand 

so ‘Alley ‘ 

91 To the left, to 
Bligh 
93 Stride 

54 Unlocks, to 
Milton 

55 Diamond of 
fame 



PubIb by Lob SUoy 


C>iVeid YcA Tmes/EiEted by Shom. 


Sirfution to PuuJe of Oct. 24 


ELIZA 
M Y G A L 


se Summon 
57 Fitzgerald of 
scat 

SB Roast cut 
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B2 Understood 


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Cowboys Lose Aikman, but Peete 
Steps In to Lead Bally Past Cards 


Scou Trqyaocs/Tbe AmeumS Pnm 

A trio of CtfAnal defenders stopped Emmitt Smitfa, but bto’ he sewed the winnii^ TD. 


By Jay Privman 

ATyw yiarlfc Tuns Serrier 

* PHOENIX, Arizona — A lit- 
tle more than five minutes into 
Sunday's game, the Dallas 
Cowboys quarterback Troy 
Aikman took a trip from here to 
a land somewhere else because 
of a head-ringing concussioii. 

This presented a problem for 
the Cowboys, vriiose badntp 
quarterback, Rodney Peete. 
had thrown all of six passes this 
year. Peete figured to become 
the new No. 1 on the hit parade 
of the Arizona Cardinals coach, 
Buddy Ryan, who seemin^y 
arms his 11 defensive players 
with Stun guns. 

Ihe Cardinals were, in fact, 
able to stymie the Cowboys for 
most of tbe game, but th^ 
could not prevent another after- 
noon of desert Sturm und 
Drang in Arizona. 

With Peete at last propdling 
an off ense that had be» inert aU 
afternoon, the Cowboys used a 
pair of fourth-quarter touch- 
downs from two of thar stars, 
running back Emmitt Smith end 
receiver Michael In^ and ral- 
lied fen a 28-21 victory in a Na- 
tkmal Football Conference East- 
ern Divisioo game. 

The Cowboys are 6-1, the 
best record in the NFC. Arizo- 
na fell to 2rS. 

Smith scored the winning 
touchdown with a little more 
than live mim rtgs remaining his 
6-yard run breaidng a 21-21 tie. 

Fbete and Irvin hooked up for 
thdr second touchdown of the 
game, this time a 6^yard pass 
down the left siddine, to tie the 
score with 13:18 left 


Aikman was injured triiile 
driving the Cowboys to a touch- 
down on the first series of tte 
game, '^th fiist-and-go^ at the 
Cardinal 9-yard Tine, Aikman set 
iffi to pass, but was chased out of 
the podret and scrambled to 1^ 
left Rhile being pursued line- 
backer ^^ber MaishaU. 

Just as Aikman rdeased the 
ball ^ throwing it away be- 

NFIROUWDUP 

cause all his recovers were cov- 
ered — Marshall's helmet 
smacked into Aikman's chin, 
splitting it open. 

Aikman fdl backvi’ard, with 
the back of his head slamming 
off the grass. He also suffered a 
gash to his tongue. He stayed in 
the game, however, and two 
plays latCT threw a lA-yard 
touchdown pass to Alvin 
Harper, but he never letumed. 

■ In other games, TTieAssod- 
ated Press reported: 

Broncos 20, Outiigefs 15: In 
San Di^o, the Broncos (2-5) 
avenged their opening daeat 
and coded the Chargers' dreams 
of an unbeaten year after a 6-0 
start. John Elway was 22-for-31 
fiM* 241 yards iod one touch- 
down and Jason Elam had two 
field goals in tbe final 10:02. 

The Broncos kqat the NFL’s 
top-scoring offense without a 
touchdown for (be first time 
this season and intercqited 
Stan Hunmhries three times. 

49ers 41, Buccaneers 16: In 
San Frandsco, the Niners (6*2) 
won thdr ninth straight against 
Tampa Bay (2-5) as Ricky 
Watien ruriied for 108 yarib 


lietzke Holds On to Win Vegas Golf 

LAS VECjAS (Reutos) — Bruce Lietzke, a 20-year PGA Tour 
veteran, shot a final round T-under-par 65 to overcome a big finish 
Rob^ Gamez and win the 90-hoie Las Vi^as Invitational golf 
tounuuneni by one stroke. 

lietzke sank a four-foot (1.2-meter) eagle putt on the par-five 
16th bole at the TTC at Summeclin course to grab the bad for 
good and he finished Sunday at 27-under-par 332. 

Gamez lurdied his last five holes fm* an impressive 8-under 64 
and finished runner-up at 26-under. Phil Mickdson birdied nine 
of his last 13 holes for a blistering 9-under 63 and a tie for third at 
24-ttnder with BiUy Andrade, who shot a 61 

Inter Ma^ SeO Bergkamp to Bayern 

ROME (AFP) The Inter Milan soccer club may be about to 
sdl the Dutch forward Deanis Beigkanq) to Bayern Munich, an 
Italian sports newspaper, Corriere ddlo Sport, reported Monday. 

The dub would not conunent on tbe r^Tort but Bergkamp Im 
never won a pennanent place in tbe ride and Inter was reportedly 
ready to aco^t an $8 million offer from Bayern’s president, Franz 
Bectobauer. 

Bayern's Frendi star. Jean-Pierre Papin, has played only a 
handful of matches because of an injury and has bera ciiticized by 
±e German press. 


Quotable 


• Tiger Woods, tbe U.S. Amateur golf champioo, on whether he 
envisions himself to be a racial pioneer in tbe mostiy white sport: 
“It’s tough enough worrying al^t one shot” 


International 

Classified 

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INTERNATfOMU. 


and a pair of scores end Steve 
Young passed for 255 yards, 
hitting 20 of 26. 

Rowe Trent Dflfer, in his 
first NFL st^ had only seven 
cooqrletions in 23 attempts for 
45 yards before being lifted in 
the final period. 

Raiders 30i, Fakwis 17: In 
Los Angeles, Tim Brown had a 
big day with eight catches lot 
130 yards and two scores, while 
Atlanta’s top receiver, Andte 
Rison, was bdd to two recep- 
tions and sat out the first quar- 
ter after missing tbe team bus. 

In earlier games, reported 
Monday in some e^ions of the 
Harold Tribune: 

Sfeeleis 10, Giants 6: In East 
Rutheifi^ New Jer^, tbe Gi- 
ants (3-4) dropped their fourth 
strai|^t with another sloppy per- 
fmnance in a steady ram. The 
Pinsbmgh rodde ^yron (Bam) 
Morris rushed for 146 yards and 
a 6-yard touchdown in his first 
start, repladng Barry Foster, 
Httsbuigh (5-2) had two inter- 
ceptions, five saAs and a fumble 
recovery at its 1. 

Brofw 37, Bengals 13: The 
Bengals (0-7), the Ague's only 


winless team, lost for the ISth* 
straight time on the road, with 
their special teams failing ono^ 
more against Qeveland (o-l). '« 
The Browns, off to th^ best ' 
Stan since 1963, got a 
punt letuni for a TD by uc 
Metcalf after he znisplayra the* 
ban. That came less ttaian two- 
minutes after Travis Hill reoov- ' 
ered a blodted punt in the end ; 
zone for another touchdown. ■> 
lions 21, Bears 16: Bany,' 
Sanders, tbe league’s top rush-'- 
er, broke free for an 84-yard run 
and rushed for 167 yards in De-' 
troiL Mel Gray returned a kick- * 
off 102 yards for a touchdown' 
and became the career leader in- 
kiclutff nmback yardage with'* 
6,922. The Lions (3-4) broke a ' 
three-game loring strode, wlule 
Chicago (4-3) saw its three-* 
game winning streak end. 

S^ts 37, Rams 34: In New; 
Orleans, the Saints won in large' 
part thanks to Tyrtme Hughes,' 
who had Idckctff runbacks of 98 ' 
and 92 yards for touchdowns. • 
That offset a 98-yard fumble, 
recovery score by Tol^ Wright’ 
and a stuniung !03-^rd punt - 
return by Robm Bailey. 


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Page 20 


irfTERNAllONAL HERALD TRIBUNE, TUESDAY. OCTOBER 25, X994 


ART BUCHWALD 


The CIA’s Wrist-Slapper 


XJ^ASHINGTON — I didn’t 
VV know this until r ece ntly 
but the most influential posi- 
tion at the CIA, next to the 
director, is the Chief Wrist- 
Sapper. His job is to ensure 
p^siunent is meted out 
impartially to CIA operatives 
who have screwed up and be- 
trayed their country. 

The agency prefers to keep 
his name a secret because everv 
foreign intelli- 
gence service 
would love to 
know who he 
is. 1 was tipped 
off about his 
identity by a 
disgruntled 
public servant 
who had his 
WTist slapped 

by the CWS, Rurfiwakf 
He was pun- oUCllwaW 

isbed for not identifying a mole 
who worked at the next desk, 
and who kept faxing top secret 
U.S. Army battle orders to 
Saddam Hussein. 



1 found the CWS (code name 
Deviled Ham) at a Popeye’s res- 
taurant a few blocks from the 
CIA headquaners. 

At first TC denied that he was 


HanoTs Opera House 
Be Refiiri)ished 

Agaice Ffene^-Prtsse 

HANOI — Hanoi's Opera 
House, an ocher and cream co- 
lonial theater based on the Pa- 
lais Gamier in Paris, may un- 
dergo a 520 million faceiifL 

The building, now Hanoi's 
municipal theater, will be up- 
graded to become Vietnam's 
National Theater and will “spe- 
cialize in classical and academic 
cultural performances.” said 
Hoang Kao Kinh of the Minis- 
uy of Culture, in the Vietnam 
Investment Review. 


Chief of the Wrist-Slappmg De- 
partment, but when I pointed to 
the scars on his fingers he ad- 
mitted that it was indeed his 
job. 

“My duty is to severely pun- 
ish those involved in intelli- 
gence snafus. Let’s take the Al- 
drich Ames case for example. 
Ames was a CIA executive and 
a paid double agent who 
woHced for the Soviets. He lived 
high on the hog with his ill- 
gotten gains and bad a life-style 
that would put Donald Trump’s 
to shame. Many top people in 
the CIA notic^ sJl this and 
didn't do a damn thing about iL 
They even awarded Ames pro- 
motions. put him in key ^i- 
tions abroad thereby aUowing 
him to blow the identities of at 
least 50 secret agents who were 
working undercover for the 
United Slates. 

“When ali this came to light 
the CIA hierarchy was shocked, 
and when Ames was arrested 
The top people said, “This is a 
job for the Chief Wrist-Slap- 
per.' They caUed me in and gave 
me a list of those who had per- 
mitted An^ to go into space 
like a loose cannon. 

“1 took the list and went from 
office to office demanding that 
the suspects stick out their 
wrists so I could slap them. 
Some ob^ed but others who 
wanted to keep their pensions 
stuck their bands in their pock- 
ets.” 

I said. “The CIA really plays 
hardball." 

“We prefer to punish our 
own rather than let outsiders do 
iL That's why we gave our men 
promotions and awards. We 
don't want to have a morale 
problem on our hands.” 

□ 

I asked the Chief Wrist-Slap- 
per if there were any more 
Ames's superiors he planned to 
slap over the Ames case. 

“Not if I can help it. Con- 
trary to public opinion most 
CIA big shots can^t withstand 
torture." 


Madozma Makes Her Next Career Move: Innocenee 


By Jon Pareles 

AVw Tines Senm 

N ew YORK — On the upper 
floor of Madonna's New Ymk 
apartment is a hallway she jokingly 
cdls the “boxing hall of fame.” Its 
walls hold framed black-and-white 
photographs of fighters; Joe Louis, 
Sugar Ray Robinson and more than 
one Muhammad Ali. Madonna 
proudly points out that the largest 
Ali photo is autographed: it reads 
“Madonna — We are the greatest!” 

”I love boxing,” the singer says, 
surveying the sweaty torsos along the 
waJIs. Is it the skill the strength, a 
sense of kinship with fellow arena 
performers? She turns and fixes her 
visitor with a level gaze. “1 lo^’e the 
brutality." she says. 

There's no brutality today. For the 
momenu Madonna is a hostess, gra- 
ciously promoting “Bedtime Sto- 
ries,” her first album in two years, 
which will be released by Sire on 
Tuesday. 

She is wearing tight, flared black 
pants and a sheer, low-cut, black 
Ann Demeulemeester shirt over a 
black brassiere; the shirt is knotted at 
the midriff, showing off the famous 
navel, now pierced with a gold ring 
that holds a diamond horseshoe — 
'Tor luck,” Madonna says. 

A half-dozen gold chains and a 
crucifix hang around her neck: she 
has a small gold ring in her nose. Her 
hair is a flashy yeUow with dark 
roots: her eyebrows are blond, her 
red fingemailf sli^Uy chipped. 

She sits to talk across a stainless- 
steel counter in her kitchen. “I 
thought this would be a good place,” 
Madonna says, in a slightly nasd 
businesslike tone. “Pei^le find some 
of the bigger rooms intimidating.” 

Later she will show her Picasso 
and the video clip for her new single, 
“SccreL" from “Bedtime Stories.” 
The song, with an unhurried Mem- 
phis soul beat turns away from the 
sexual fantasies of her 1992 album. 
“Erotica," and leaves behind Ma- 
donna’s usual come-ons to declare. 
“Happiness lies to your own hand.” 

The video presents her as a night- 
club singer in a picturesquely gritty 
Harlem; at one point she undergoes a 
ritual that looks like a baptism, a 


cleansing rebirth — the latest in a 
career of constant metamorphosis. 

Madonna thrived in the 19S0s on 
being sensational and suggestive 
against a tame mainstream back- 
drop. In the early 1990$ she became 
vulgar Instead of shocking. But in a 
career whose only constant has been 
constant chaps*- is trying on a 
mantle of something like innocence. 

“Bedtime Stories’* was wriiteo by 
four leading names in black pop: Ba- 
byface, who has had hits with Toni 
Braxton and Whitney Houston; Dal- 
las Austin, who provided romantic 
backdrops (ot Bc^ II Men: Dave 
HalL who produced the cheerful, hip- 
hop-inflected pop for J. Bliee 
and Mariah Carey: and NellM 
Hooper, the Bridsh produt^ bdikd 
Soul H Soul and Sinead O'Connor's 
“Nothing Compares 2 U." 

The lyrics are rarely preJound. 
Madonna has recast herself as a 
crooner but without the melodrama 
of songs like “Live to Tell." Many of 
the songs have pentatonic melodies, 
making them both concise and seem- 
ingly unresolved, with a melancholy 
undertow: the tone is suMued. with 
touches of lushness. 

Still, she can’t resist a few digs at 
naysayers. In “Human Nature.” for 
instance, she sarcastically sings. 
“Oops. I didn't know I couldn't talV 
about sex" afto- which the chorus 
lilts, “Pm not sorry.” 

But for the nest of the album. Ma- 
donna takes her anta^mists' advice: 
she sings not about sex but about 
yearning and. often, loneliness. In 
“Sanctuary" pygmylike boots and 
throbbing low bass notes fntme Ma- 
donna's declaration “It’s here in your 
heart 1 want to be carried.” In “In- 
side of Me" a wailing saxophone 
phrase breaks the surface of a 
smooth ballad that avows “Ev'en 
though you're gone/ Love still carries 
oa."In most songs she's rimply alone. 

Reflecting on her success, the sing- 
er says: “I've been famiMis for a de- 
cade now, and famous in a really all- 
encompassing way and a really 
unfo^ving way. 1 started out very 
idealistic, a rosy-cheeked, wide-eyeii 
girl from the Midwest Now I wc^d 
say that I’m unbelievably wiser. 
“When ! see people with that des- 






ftircL DeSbreVcIber'Warner fitoctn* 


Madonna: **1 don't think of this album as being sweet.” 


perate need to have pubhc attention, 
and with a really naive idea about 
what it takes and what is required. 1 
laugh and think. 'If you could only 
imagine.* ” 

Naive Madonna is not — and she 
clearly knons u-hat is required. She 
has had a startlingly long nin. Few 
performers built lasting careers in the 
1980s. yet through instinct or plan- 
ning Madonna has gauged audience 
demand with impressive precision. 

She has garner^ outsize reactions 
through small giesiures — performing 
with a hare navel, putting extra 
bumps and grinds into a Las V^as- 
iike stage show — and shown in the 
process just bow little leeway had 
been grated to female pop perform- 
ers until she came along. 

In songs and videos she has played 
the disco cheerleader and the street 


flirt, the eluant diva and the woman 
in the gingham dress, the gum-chew- 
ing hom^^l and the untouchable 
icon. Some obse^rs have consid- 
ered Madonna's transformations to 
be maiketixtg tactics, like fluctuating 
hemlines. She denies iL 

“Everything I’m doing is my own 
catharsis.*’ she sa^s. “My work is a 
kind of s^-portraiL The whole delv- 
ing into erotica and dealing with my 
sexual fantasies was my own inner 
struggle with the way 1 was raised, 
the Cathcrficism that is deep in my 
bones, and my own sense of guilt and 
an. It’s about my own inner struggle 
with rraiession." 

On “Bedtime Stories” Madonna 
has remade herself again- It’s a 
change in style that may surprise 
both the fans who love her and the 
critics who loathe her. 


“Tbere’s lots of ways to get your 
pdnt across and lots of ways to tiy 
a^ influence people.” she says.' 
“You can be aggressive and loud, 
and you can shock people, and you 
can hit them over the head. But t^ 
there are other ways. You can ^ 
liminuUy s^uce sconeonu. or you esa 
do it — 'weD. I can't even think of a 
word to describe it, because ’sweet’ 
sounds stupid to me. I don’t think cd 
this album as being sweet; I think of 
it as being bittersweet.” 

Her album “Erotica,” she 
“was one side of me. and. this is 
another ade of me,” she adds. “It's 
not to say I'm not interested in ex-, 
ploring that avenue any more. I dtui’t 
think to o^self, *Oh, L went as far .as I 
could ga* I just got what I could get 
from it for the time being. 1 thmk 
everybody else dunks 1 went as far as 
Icould go, but we won’tget into what 
everybody dse thinks.” . 

She has provided total-immersion 
entertainment: enough ^nds, im- 
ages, Bcdoos and apparitions to fill 
everythu^ from r^o air time to - 
tabloid front pages. 

Indeed, for fans and detractors 
Madonna has been the ultimate 
workaholic bad girl, simultaneously 
sexy and ambitious, staying on tc^ . 
through ceaseless, meitculous 

nhangg_ 

By itsdf most of Madonna’s music 
has bem catet^ and innocuous, with 
many earfy songs offering inoeniives 
to dance and the tnie-blire promises 
^ girl-group pop. She wore lingerie 
and cruciflxes, but her sentiments 
could bave b^ found in a l9S0s 
high school yearbook. 

Tbc exemdon was her 1985 hit 
“Material Girl," which Madonna 
now disowns. .After pointing out that 
she didn't write it, she adds, “ro 
never sing it again as long as I live." 

Yet “Material Giri” l^ped make 
Madonna the perfect symbol for 
Reagan-era America: materialistic, 
blond as a Ht^ywood fantasy, adq>t 
at creatii^ a career ihroi^ photo 
(importunities. She was a virtuoso of 
tM superfici^ and it took some time 
for p(^ critics — (tistiacted by her 
unexceptional musical skills — to re- 
alize that mastery of surfaces, is a . 

all its own. 


I*’ 



WEATHER 


PEOPLE 


Europe 


Today 


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Forecast for Wednesday through Friday, as provided by Accu-Weather. 



North America 
Sosien tr>rau9rt Pitt&burgh 
Hill n«v« ehitiy weather 
Wednesdsy into Thursday. 
Friday mil be dry WKl mMer. 
Mide' wmihsr wW surge ima 
Chcago later ms week, then 
rmCh the East Coast cities 
try Friday Pdrtland. Seattle 
end Vancouver will have 
some rain Carriomta will be 

dry end ffllW. 

Middle East 


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flam will move Into Sesneb- 
navle Wednesday and 
remain mto Friday Wt w i e rn 
Europe, Including London. 
Paris and Amsierdem will 
two froquerd showers along 
with a gusty wind taler inis 
week Madrid wilt be mild 
with an couple of showers, 
while Rome wtll be mostly 
Oy with some sunshme. 


Asia 

Typhoon Teresa win bnng 
he^ rains to Humem V«t- 
nam Wednesday Typhoon 
Verne will dnh through the 
western Pacific later this 
week, but probably not 
directly affect any land 
masses Ram will spread 
■110 southern Japan, inckid- 
ing Tokyo Peking win have 
cool weather with some sun. 


Latin America 


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W E.ARING number 40 — to represeDi 
her age — Op^ Winfrey, the TV 
talk shew host whose dieting ups aud 
downs are legendan'. completed the Ma- 
rine Corps marathon in W-ashington In a 
re^Tectable 4 hours. 29 minutes and 20 
scoends. “This is mv last marathon." she 
gapped. 

O 

Stereo Spidberfi, 46. has received the 
.American Film losiiiuie's 1995 Life 
Achievement Award. Others to have re- 
ceived the award are Elizabetli Taylor, 
Jack NicfaoIsoD and Frank Capra. 


George Bush opened "Saturday Night 
Live" with a few shots at the imperson- 
ations that were impressionist Dana Car- 
v^'s bread and butter during the Bush 
years in the White House. “Cto 1 have any 
hard feelings about that? Yes I do, and I'll 
have my revenge when the time is right." 
Bush said. “Not now. Wouldn't be prudent 
at this juncture. But revenge will be mine " 


Shari Lewb, whose puppet Lamb Chop 
has entertained childrea for four decades, 
orders rack of Iamb in restaurants just to 



ijnvMomi/Ar 


Oprah Winf^, tankuig iqi. 

horrify waiters. “At every opportunity,** 
the four-time JEmmy winner said. 

□ 

Gmly Oairford, snuggling a Siamese cat 


and wearing only a fake fur aviator's !. 
was photograph^ for a campa^ against - 
the use of real animal pelts. The American.' - . . 
supoxDodel was shot from Ihe w;ust U|r. 5 
holding the cat close to her chest Copies of 
her cap, emblazoned with an anti-fur but- 
ton. wtU be sold to raise funds for People 
for the Ethical Treatment of Animals. 1^- 
lier tins year, the models Naomi Camp^ - 
and Tarfington p(Ked nude b^nd 
a banner that re^ “fetter Nude Than i 
Wearing Fur.” 

□ 

The actor' Dannv Aiello said be felt be- • 
tra^ after leamiag his daughter-in-law 
had stolen more than S246.000 from his ' 
checking account Hade Aiello was given 
five yeat^ probation and told to pay resti- 
tution at the rate of S40 a week. “1 wanted 
her to go to jail" said Aiello. “She de- 
served it" 

□ 

Qoria Steman, speaking to the New . 
York Library Association, said she has 
fond memories of libraries that stocked 
Ms. mapzine. of which she was a founder. 

She caOra for more public si^port irf li- 
braries, saying they are the 0 ^’ free en- 
trance to the infonnatioD highway. 



• “V 

y- 


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. U0-)90-11 

999-001 

POLANOt*'. 

OC8ia-<«0.0111 

. i-soo-sso-no 

PORTUGAL* . 

OS017-1-209 

.. 172-1011 

ROMANIA 

. 01-000-4200 

r 155-00-11 

SLOVAK REP. 

00-42040101 

OsMOO 

SPAIN* 

900-99-00 .11 

o-an Dll) 

SWaiEN* 

020-795-011 

08D0-0M-110 

SWnZERlAND* 

. ...m-00-11 

100-0011 

UKRAINE*. . 

80100-n 

06-022-9111 

U.K. 

... KDo-si-oini 


MtffOlE EAST 

6A.HRMN ..eOO-OCl 

cvF««* iw«nio 

EGTFT' {CAIRO)' 61O-0ZD8 
ISRAB. ir7-in-t7Z7 

nmWT 600-296 

LEBANON /BfiAUT)- . m-M1 
SNlPBfVflA 1-6UI.1C 

TURKEY’ W-eil6-12277 

U^^EMRATFS' SOO-m 


AMERICAS 

WEN tihttt 001-900.200 -1111 

0.800-1112 

MAOL . MO-SOId 

CANADA 1-fl00-5r>222 

CHJU. 000-0312 

coiQuaa.. soo- 11 -ooio 

El SALVADOR'.. 190 

HONDURASi., 123 

MEMCt)»« ... 95-flOO-463.«40 


With Am USADirect^anii 
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simply press the #hunon. In short, you'll spend less.-.i 

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PANAMA^ 109 

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l-TMYat 0800-10 

UOeiUA 797-707 

SQimi AFRICA O-BOQ-OO-na 


lyniUlbHd^'Connix/ions 











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